Take-Two Interactive Reports Q3 2010 Earnings, Red Dead Redemption Boosts Revenues

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Posted September 2, 2010 - By Jake Gaskill

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Take-Two Interactive announced today that it saw net revenue for Q3 2010 jump to $354.1 million, an increase of $259.2 million over the same period last year. The publisher attributed the bulk of this success to the continued success of Rockstar Games’ wildly popular Wild West title Red Dead Redemption. The title has sold over 6.9 million units since its release back in May.

Also contributing to Take-Two’s success were other Rockstar titles including Grand Theft Auto: Episodes From Liberty City and Grand Theft Auto IV, as well as other portfolio titles such as NBA 2K10 and Gearbox Software’s post-apocalyptic shooter Borderlands.

Looking forward, Take-Two is expecting continued growth in Q4 thanks to continued downloadable support for Borderlands and BioShock 2, as well as new and upcoming releases such as Mafia II, NBA 2K11, and Sid Meier’s Civilization V. Take-Two also announced that Rockstar’s L.A. Noire has been delayed into the first half of 2011.

"Our results for the third quarter and our expectations for the remainder of fiscal 2010 reflect significant progress toward achieving our goals,” said Take-Two CEO Ben Feder in the company’s financial report. “First, we expect to be profitable in a fiscal year without a major multi-platform Grand Theft Auto release. Second, Take-Two's broad array of hit franchises highlights our ability to deliver a diverse product line. Third, Red Dead Redemption has shown that our creative teams can produce multiple mega-hit franchises. Our fourth quarter roster demonstrates our continued ability to create a well-balanced lineup across all of our labels and build upon Take-Two's industry-leading franchises.”

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Toon_Dude

Yeah I noticed they beat on top and bottom line. I was surprised. That sent their stock soaring about $1.30 or so almost hitting $10 so very nice work for Take Two. They also raised guidance which is gonna be exceptionally important going forward.

Posted: September 3, 2010 6:58 AM
expl0siv0

This article reminds me... that take two rocks!

Posted: September 2, 2010 7:29 PM
Thundrone

Where do you get the gold gun in the picture...

Posted: September 2, 2010 6:24 PM
Don1Knows1Best

Ive accepted it. Rockstar owns me. I am Rockstars bich. I seem to have purchased everything theyve put out in the past couple years. (including table tennis) Theyre so good they dont even bother showing up at E3. Screw the machines Terminator; Rockstar ent is making its move on total domination.

Posted: September 2, 2010 3:54 PM
lmitchell8075

GTA V please... make it like Red Dead except have more cities but also include country land.

Posted: September 2, 2010 3:12 PM