Earnings: Take-Two Q2 Revs Soar On GTA Sales, Profit Beats Expectations

This story was written by Joseph Weisenthal.
It looks like game maker Take-Two might have a hit on its hands with this Grand Theft Auto thing the company reported Q2 revenue of of $539.8 million, compared to just $205.4 million. On the bottom line, they swung to a profit of $98.2 million ($1.29 per share) compared to a loss of $51.2 million ($.71 per share) in the year-ago quarter. The big gains can be attributed to the release of GTAIV, released this past quarter to both critical and (obviously) market success. Analysts had been looking for a profit of $1.13 per share, so this is a solid beat. The question now: does it give the company enough powder to stay independent against EA's attempt to acquire it. So far EA hasn't made much progress on that front, and this won't make their job any easier. Release.

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By Joseph Weisenthal
  • CBSNews

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