Take-Two Makes Money Without New Grand Theft Auto

image

Cowboys, Mafiosi, and empire-building credited for publisher’s “milestone” profits.

Take-Two Interactive was able to achieve one of its goals this year, by reporting a profit in a year that didn’t include the release of a new Grand Theft Auto game.

Take-Two ended its financial year on October 31st, and generated $1.15 billion in revenue – an increase of 65% – of which $42.5 million was profit. The previous year, Take Two endured a loss of $140 million. The strong performances of games like Civilization 5, Mafia 2 and, of course, Red Dead Redemption were credited as the source of Take-Two’s financial success. Take-Two also noted that digital sales had been a “meaningful component” of its sales over the last twelve months.

CEO Ben Feder – who leaves the role in January – said that the revenue growth andmargin expansion for the year had been better than expected, and CEO-Designate Strauss Zelnick said that Take-Two was now in a much better position, both financially and creatively, and would continue to build an increasingly diverse catalogue of games to facilitate further growth.

It will be interesting to see where Take-Two goes from here, having hit one of its major milestones, and someone new at the helm. With hard-boiled thriller LA Noire and the singular Duke Nukem Forever already lined up for next year, I wouldn’t be surprised if Take-Two is able to give a repeat performance in 2011.

Source: MCV

Recommended Videos

The Escapist is supported by our audience. When you purchase through links on our site, we may earn a small affiliate commission. Learn more
related content
Read Article Fortnite Roadmap Leak Potentially Reveals Festival Artists, OG’s Return, & More
Lady Gaga on Fortnite Festival Stage
Read Article All Net Worth Ability Upgrades In Monopoly GO
Net Worth upgrade Abilities in Monopoly GO And How They Work
Read Article Elon Musk’s Viral Red Carpet Moment Was Recreated in The Sims
Elon Musk smiling in front of a Sims background
Related Content
Read Article Fortnite Roadmap Leak Potentially Reveals Festival Artists, OG’s Return, & More
Lady Gaga on Fortnite Festival Stage
Read Article All Net Worth Ability Upgrades In Monopoly GO
Net Worth upgrade Abilities in Monopoly GO And How They Work
Read Article Elon Musk’s Viral Red Carpet Moment Was Recreated in The Sims
Elon Musk smiling in front of a Sims background