Latest in Gaming

Image credit:

Take-Two revenue up $14m, laying off 15% of execs


Take-Two has released its fiscal 2010 Q1 financial report, dropping always thrilling financial news on us about the company's performance between November 1, 2009 and January 31, 2010. Aside from a $13.8 million year-over-year increase in net revenue ($163.2 million this year over $149.4 million last year), Take-Two also reports a diminished net loss (again, year-over-year) to the tune of $20 million.

Take-Two also updated investors on current sales of several games and franchises, with GTA IV chocking up "over 15 million units globally" to date, NBA 2K10 already shipping "over 2 million units," and Carnival Games accruing 6 million units sold worldwide across both Wii and DS platforms. That's gotta be helping with that improved bottom line, eh?

Aside from those highlights, the investor report additionally notes plans for "a targeted restructuring of its corporate departments," resulting in a "15 percent reduction in corporate headcount." More shocking, the "restructuring" (read: layoffs) will amount to "approximately $8 million in savings in fiscal 2010." Holy cow!

From around the web

ear iconeye icontext filevr