Take-Two Profitable Without GTA, L.A. Noire Officially Delayed
Take-Two Interactive just released its third quarter financial results ending July 31 and the numbers are looking good. What's not so good? L.A. Noire has been pushed out of this year into the first half of 2011. The game's delay is no big surprise, however, and it does give Take-Two's other period gangster title Mafia II some more time in the spotlight.
The fact that the company enjoyed massive success with Red Dead Redemption gives it some breathing room in the schedule as well. According to Take-Two, Read Dead has sold over 6.9 million units worldwide since its release in May. This has helped push this year's third quarter net revenue to $354.1 million from $94.9 million during the same period last year. Even without L.A. Noire, Take-Two is increasing its guidance for the fourth quarter based on confidence in Mafia II, NBA 2K11, and Civilization V.
"Our results for the third quarter and our expectations for the remainder of fiscal 2010 reflect significant progress toward achieving our goals," says Take-Two CEO Ben Feder. "First, we expect to be profitable in a fiscal year without a major multi-platform Grand Theft Auto release. Second, Take-Two's broad array of hit franchises highlights our ability to deliver a diverse product line. Third, Red Dead Redemption has shown that our creative teams can produce multiple mega-hit franchises."