‘Red Dead Redemption’ boosts Take-Two Q3
Take-Two Interactive Software proved on Thursday that it’s morethan a one-trick pony by earning a profit without having to rely onits workhorse franchise, “Grand Theft Auto.”
The fiscal third-quarter results blew past the expectations ofanalysts, as well as the company’s own guidance. The earnings newswas released after the close of market trading, but investorsrewarded Take-Two by bidding up shares 13% in after-hoursactivity.
On the strength of sales now approaching 7 million units for “RedDead Redemption,” Take-Two earned a $5.9 million profit in thequarter, reversing a $57 million loss a year ago.
Revenue more than tripled to $354 million.
The New York-based company also significantly upped its guidance,predicting a full-year profit on revenue up to $1.1 billion. Itpreviously had forecast full-year revenue of up to $950million.
Helping the video-game publisher exceed expectations on just aboutevery level during the quarter and for the rest of the year arealso older titles like “NBA 2K10″ and “Grand Theft Auto IV,” a gamethat’s more than 2 years old already.
Executives highlighted several upcoming games they are especiallyexcited about, including “Nickelodeon Fit,” coming out for the Wiion Nov. 2 and, coming next week, an iPad version, in HD, no less,of “Grand Theft Auto: Chinatown Wars.”
Take-Two shares rose $1.15 in after-hours trading to $10.01.
More Source:
Take-Two Interactive Reports Q3 2010 Earnings, Red Dead ...Take-Two Q3s: Red Dead Redemption sells 8 million | VG247
Latest Video Game News
Take-Two Reports Q3 Results, Fiscal 2011 Financial Guidance ...
Related News:
- Stars reward Goligoski with 4-year deal
- Likely concussion sidelines Simon Gagne
- Pope Benedict Denounces Christmas Attacks in Nigeria
- Mercedes-Benz SL Unveiled Ahead of Formal Debut at Detroit Auto Show
- Three-quarters of Australian homes have broadband
- Free agent Heath Bell chooses Marlins: report
- N.Y. Times swings to huge profit
- Jenny McCarthy’s next book is…
- Aussies make the smart call on phones
- Whitecaps name Martin Rennie head coach for 2012 season
Details :
Submited at Friday, September 3rd, 2010 at 10:00 am on Technology by madison
Comment RSS 2.0 - leave a comment - trackback