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Take-Two Q2 revenue up to $268M, BioShock 2 sales 'lower than expected'

Ludwig Kietzmann
June 8, 2010
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Grand Theft Auto publisher Take-Two has announced its financial results for its second fiscal quarter, which ended April 30, 2010. Net revenue of $268 million represented an increase of 54 percent over the $174.3 million recorded during the same quarter last year; a change that Take-Two attributes to sales of Major League Baseball 2K10, as well as the introduction of Grand Theft Auto: Episodes from Liberty City to PlayStation 3 and PC.

In a related investor call, Take-Two Chief Financial Officer Lainie Goldstein noted that 32 perecent of revenue was driven by the publisher's catalog titles, including NBA 2K10 and Grand Theft Auto IV. And while BioShock 2 contributed to the increased revenue and became a profitable endeavor, Goldstein noted that the dystopian shooter incurred "lower than expected" sales. "The title was well-received by the media and was profitable for us," she said. "However, sales slowed down sooner than we had expected."

Operating income for the quarter rose to $16.9 million (last year's second quarter represented a loss of $10.4 million), while total revenue for the company's first-half financial year totaled $431.2 million.





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