Take-Two Turns Profit, Red Dead Redemption Hits 5 Million
Remember how one analyst thought Rockstar needed to sell 4 million copies of Red Dead Redemption just to break even? Well, goodbye to the black and red parts of the graph; hello to the green.
Take-Two Interactive has announced that the epic Western-themed masterpiece has sold 5 million total copies across the PlayStation 3 and Xbox 360 platforms. In other words, the game is set to turn a profit in its very first quarter on store shelves. Even so, this information doesn't help the company's bottom line for their latest quarterly results; RDR released outside the February-April quarter, so they can't benefit from Rockstar's latest gem until next time 'round. Even so, Take-Two's earning report for the period showed a 54% sales increase in a year-over-year comparison; from $174.3 million in 2009 to the $268 million just recorded. The publisher was able to reverse last year's $10.4 million overall loss, posting a $16.9 million profit for the previous quarter. Top releases include Bioshock 2, Grand Theft Auto: Episodes from Liberty City, and Major League Baseball 2K10, with continued strong sales for NBA 2K10 and Grand Theft Auto IV. To date, the latter has sold a mammoth 17 million units on the PS3, 360, and PC since its record-setting launch back in April 2008.
Due to the positive quarterly results, Take-Two has raised their full-year expectations, as they now anticipate raking in between $880 million and $980 million in their fiscal year ending October 31, 2010. On the downside of things, it has been announced that Max Payne 3 must once again be delayed; this time, it has slipped outside of their fiscal year. Still, L.A. Noire, Mafia II and Civilization V remain on track. You won't be seeing any of them at E3, though, because it has also been confirmed that Rockstar won't be showing any games at the trade show next week.
6/8/2010 8:51:00 PM John Shepard