Go Back   GTAGaming Forums > Grand Theft Auto > Grand Theft Auto IV
Register FAQ Members List Calendar Mark Forums Read

Thread Tools Display Modes
Old 03-10-2009   #1
zeeshan810's Avatar
Join Date: Mar 2008
Location: Toronto, Canada
Posts: 1,079
zeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enoughzeeshan810 will become famous soon enough
Post Take-Two losses rise, GTAIV hits 13 million (Gamespot)

"13 million copies? The cabaret tickets are on me, Roman!"

Ever since analyst Michael Pachter upgraded his rating of Take-Two Interactive to "buy" last week, the publisher's share price has been slowly rising skyward. Just today, shares in the company rose nearly 14 percent to hit $6.85 at the closing bell--nearly $2 more than where it was when Pachter issued his prognostication.

All that changed at about 4:30 p.m. Eastern time, when Take-Two's share price began to sink in after-hours trading. The drop was precipitated by the New York-based publisher issuing its earnings report for the November-January quarter, the first of its fiscal year. On one hand, the three-month period saw the company take in $256.8 million in revenues, a 7 percent increase from $240.4 million during the same period the prior year. On the other, losses for the quarter totaled $50.4 million ($0.66 per share), up from $38 million ($0.52 per share) the year prior.

Take-Two blamed the increased loss on stock-based compensation, bigger marketing and development expenses, and $4.9 million in "unusual" legal bills. The company did not say if the bills were related to its successful foiling of a takeover bid by Electronic Arts last year.

Of Take-Two's Nov.-Jan. revenues, some $60 million was from Grand Theft Auto games, including the blockbuster Grand Theft Auto IV. The company also announced today that the critically lauded Rockstar Games open-world crime adventure has now sold some 13 million units worldwide on the PC, Xbox 360, and PlayStation 3. Take-Two CFO Lainie Goldstein said that worldwide, sales of PS3 and 360 versions of the game are "50/50." In the US, where the game has sold more than 5.5 million copies, the NPD Group shows the 360 leading the PS3 by around 1 million units.

Unfortunately, in a conference call with analysts after the report, Goldstein declined to offer sales figures for GTAIV's Xbox 360-exclusive expansion, The Lost and Damned. In the aforementioned note, Pachter estimated that the add-on has already sold 1 million units and would sell 2 million by the end of Take-Two's fiscal year on October 31.

Looking ahead to that year, Take-Two executives revealed that the Timbaland-produced PSP game Beaterator--first announced in March 2007--will finally arrive this summer. The season will also see 2K Sports release The Bigs 2 from Dead Rising 2 developer Blue Castle, followed by NBA 2K10 and NHL 2K10 in the fall. They also confirmed that Borderlands, Mafia II, BioShock 2, Red Dead Redemption, and the second GTAIV 360-exclusive expansion would all arrive before Halloween.

In terms of guidance, Take-Two expects to take in $200 to $220 million dollars in revenue during the February-April quarter, for a loss of $0.10 or $0.20 per share. For its full fiscal year, the company expects $1.1 to $1.25 billion dollars in revenues, with per-share earnings ranging from $0.00 to $0.20.

Source Gamespot: http://www.gamespot.com/news/6205850.html
zeeshan810 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT -6. The time now is 10:37 AM.