- Take-Two Interactive's financial fortunes have run hot and cold since the announcement of a delay for Grand Theft Auto IV. Disappointment at the publisher's biggest game being pushed back into next year was offset partially by news that Rockstar Games' Manhunt 2 had been cleared for a North American release next month and an avalanche of glowing reviews for 2K Boston's BioShock.
Today the publisher announced its financial results for its fiscal third quarter, which ended just days before the GTAIV delay started the stock's roller coaster ride. For the three months ended July 31, Take-Two posted revenues of $206 million, down from $241 million from the same period of 2006. However, the company's losses narrowed nearly as much, with Take-Two losing nearly $59 million for the quarter, a significantly better showing than the $91 million it lost in last year's third quarter.
As for why sales were down, Take-Two blamed it on tough comparisons against the previous third quarter, when Grand Theft Auto: Liberty City Stories launched on the PlayStation 2. Partially offsetting that were a line of new releases including The Darkness, Fantastic Four: Rise of the Silver Surfer, The BIGS, and All-Pro Football 2K8. Combined new releases brought in $44.5 million more than the new releases take for last year's third quarter...