Take-Two Hit with $50M Q1 Losses
It looks like the 2009 fiscal year is getting off to a rough start for Take-Two. Addressing investors this week, the company posted its first quarter numbers and revealed that it has taken a loss of $50 million, up from the $38 million loss posted during the same period last year. Ironically, the company’s actual revenue was up for the quarter, up roughly 7 percent from $240.4 million last year to $256.8 million for this most recent quarter. The loss for the quarter in spite of higher revenue was blamed on the higher than expected costs related to “unusual legal matters” related mainly to the attempted takeover by Electronic Arts, business reorganization, marketing, and R&D costs.
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Category DS, Industry, Other, PC, PSP, Platforms, PlayStation 3, Wii, Xbox 360 | Tags: BioShock 2,Economy,Electronic Arts,finance,fiscal,Grand Theft Auto,investors,Midnight Club,red dead redemption,stock market,Take Two
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Midnight Club L.A. Dated
Rockstar Games today announced that the fourth game in the Midnight Club franchise, Midnight Club: Los Angeles is set for release on October 7th in North America and October 10th in Europe. The game is being developed by series creator Rockstar San Diego. Also scheduled for release simultaneously, Midnight Club: LA Remix for the PSP. That game is being developed by Rockstar London. Expect to hear more from the E3 Media & Business Summit.
