Take-Two has announced a jump in revenue of US$13.8 million in its first quarter results for the three month period ended January 31, 2009.
Total revenue hit US$163.2 million for the quarter, from US$149.4 million the previous year. Sales were primarily driven by the release of Borderlands, NBA 2K10, GTA IV: Episodes from Liberty City and Carnival Games. However, the company still posted a net loss of US$33.8 million, diminished from US$53.8 in 2009.
“We are pleased to begin this fiscal year with better than expected results that reflect our ability to produce compelling titles and to enhance the potential of our franchises through downloadable content and digital offerings,” commented Strauss Zelnick, Chairman of Take-Two.
“We’ve also taken important steps to improve the efficiency of our business and align our corporate cost structure more closely with our current goals. Our updated outlook for 2010 underscores a prudent approach toward what we still believe to be a challenging year ahead. We remain committed to creating long term value, and continuing to improve upon our execution and efficiency.”