Take-Two profits up slightly in Q109, GTA accounts for 40% of revenue
Take-Two Interactive today announced its financial results for Q1 2009, ended January 31. The company's Q1 net revenue was $256.8 million, up a modest $16.4M over Q108's $240.4M. Its net loss for the quarter was $50.4 million, $12.4M worse than Q108's $38M.
Sales of the Grand Theft Auto franchise accounted for $60 million (40%) of Take-Two's Q1 revenue, although the company declined to break this number down by title -- specifically with regards to revenue from The Lost and Damned -- during an investor call. Other titles cited as Q1 bread-winners were Wii's Carnival Games, along with Midnight Club: Los Angeles and NBA 2K9. Key titles noted for FY09 include Red Dead Redemption and the second Xbox 360 exclusive DLC episode for Grand Theft Auto IV.
In an official statement issued to investors, Take-Two chairman, Strauss Zelnick, said, "Looking to the balance of the year, the economy remains challenging and uncertain, and our industry will not be immune to this environment. Consumers will continue to be highly selective in their purchases, including interactive entertainment," adding, "We need to deliver innovative, exceptionally compelling products to compete for this more limited consumer spending, and we are confident in our ability to do so."
