Sounds like a
pretty good deal after having to push back the release of their blockbuster game Grand Theft Auto IV until 2008.
Excluding $12.4 million in costs for items including corporate
restructuring and legal fees, Take-Two lost 64 cents per share. On that basis,
analysts, on average, had expected a loss of 67 cents a share, according to
Reuters Estimates.
Third-quarter revenue was $206.4 million, down 14 percent from a
year earlier but higher than the average forecast of $200.8 million. The company
said sales were helped by demand for games including "The Darkness," "Fantastic
Four: Rise of the Silver Surfer," "The BIGs," and "All-Pro Football 2K8."
Hmm, who would have thought that these titles would do as well as they did. I heard that All-Pro-Football 2K8 was not as good as Madden 08. Maybe that
OJ Simpson controversy with that cloaked OJ Assassins Mascot making a stabbing motion when you score a touchdown moved some titles. The Bigs was far better the Wii Baseball from what I have read as well. I haven't heard much about the Darkness or FF: Rise of the Silver Surfer but I guess someone was buying them. Now this is some good news for Take-Two stockholders though:
Speaking on a conference call, Take-Two executives said "BioShock" was
one of the fastest-selling games in video game history. The company has shipped
about 1.5 million copies of the game since its August 21 release, it
said.
I would think that BioShock would be fated to break all kinds of records because it was visually stunning and had some outstanding hype surrounding it. I guess it has really lived up to the hype and might be that "must-have" title for the fall release season. I would be willing to bet that TTWO will go back up to those pre-GTA 4 pushback levels.
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