News

Take-Two takes a hit

To the tune of 137 million USD in losses

Take-Two has broken the news that as of the end of their fiscal year (the 31st of October) they were in the hole for 137 million USD. This massive loss has impacted the companys outlook but they look forward to new horizons.

These numbers look sour compared to 2008's result of a 97.1 million USD profit, largely due to the release of GTA IV. But the company's spirit has not been broken, head man Strauss Zelnick gave the following comment on the subject:

"The fact remains that Take-Two is in a fundamentally strong position to build long term value. We have an outstanding portfolio of hit franchises based largely on internally developed and owned intellectual property, a team of extraordinarily creative and talented people, opportunities to extend our business to new media and markets, and the financial resources to support our strategies."

Take-Two also pointed out that Borderlands has sold over two million units and looks to be a promising franchise, so there some bright spots for the company. Thanks CVG.

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