“Grand Theft Auto” Publisher Pessimistic
May 26, 2009 by Mark Ellis
Filed under Business
Take-Two Interactive, the video game publisher whose subsidiary, Rockstar, produced the massively popular Grand Theft Auto series, has trimmed its revenue forecast for the year and delayed the release of two games. Still, the company has reported surprisingly strong quarterly results.
GTA IV Screen - Image: Flicker
Whereas the company had previously predicted revenues of $1.1 billion to $1.25 billion, Take-Two Interactive has now lowered its forecasts to a value somewhere between $1.05 billion and $1.1 billion. According to Take-Two, the fourth quarter will be crucial as it plans to release Grand Theft Auto: Episodes from Liberty City on the Xbox 360.
The company has lost $10.1 million in the fiscal second quarter of the year, compared to a $98.2 million profit reported just last year. Revenue fell 57 percent to $229.7 million, a dramatic turn for the Take-Two Interactive from last year when it released the wildly successful Grand Theft Auto IV.
