Take-Two revenue down, but profit earned in latest quarterly results
The last time we checked in on Take-Two's quarterly earnings the publisher was operating on a different fiscal calendar -- and had regained profitability. Today, the company introduced its recalibrated fiscal year, reporting on the third quarter results of its fiscal 2011 year -- in our world: October–December 2010. Revenue was down for the quarter, recorded at $334.3 million, compared to the $360.4 million for "the year-ago period," though Take-Two remained profitable, reporting a non-GAAP income of $49.5 million.
The usual culprits were bringing home the bacon for the period, including Red Dead Redemption, Borderlands, and Grand Theft Auto IV (now in its "Complete Edition" form). Through the first nine months of the current fiscal year (April–Dec. 2010) revenue jumped 80 percent from the previous year, reaching $954.6 million. Take-Two expects to trot past the billion-dollar mark this quarter as the sun sets on its fiscal 2011 (ending March 31) and has increased its projected annual revenue to $1.10 billion.
