Take-Two Interactive posted a favorable fiscal report for Q4 2010. The company beat out corporate guidance in both profit and revenue to show a profitable fiscal year ended October 31. The company cited strong holiday and catalog sales.
Focusing on the quarter, Take-Two showed profits at $53.8 million, up from $23.5 million year-over-year. Total sales for the year helped Take-Two gain $42.5 million in profits for the fiscal year, up from a loss of $140 million in 2009.
Revenues were also up for fiscal 2010; gains by 32% in Q4 to $373.7 million, with total fiscal year revenues peaking at $1.15 billion, up 65% from 2009.
Take-Two had a fantastic year with titles such as Red Dead Redemption, which has now shipped over 8 million units since launch earlier this year. NBA 2K11, Mafia II, Sid Meier’s Civilization V and Grand Theft Auto IV: Complete helped drive a profitable year. Catalog titles such as Borderlands and Grand Theft Auto IV were also cited as boosting sales for the company.
Take-Two did note that 2K Sports was profitable on its own this year. Digital sales “continued to be a meaningful component of Take-Two’s sales,” said the company.
"We have achieved our goal of profitability in a year without a new release of Grand Theft Auto," Take-Two CEO Ben Feder said proudly.
Take-Two also noted that it's changing its fiscal calendar. The fiscal year will no longer end in October and will instead be changing to an April to March fiscal year to better align with the rest of the industry.
1 Comments
December 18, 2010
It's good to see that they are proving that it's more to them than GTA, Bioshock, and 2K Sports.