Take-Two Interactive Posts Smaller Loss

Videogame publisher Take-Two Interactive Software Inc has reported a quarterly loss that turned out to be much smaller than expected, as well as revenue that toped forecasts. However, Take-Two’s shares are down slightly as the company releases a less-optimistic forecast for the rest of the current quarter.
 
Take-Two, publisher of the immensely popular Grand Theft Auto series, stated today that it remains wary due to weak consumer spending and cautiousness on the part of retailers. While Take-Two may get more business thanks to recent price cuts on videogame consoles on Microsoft and Sony’s part, the company has been reluctant to increase its fiscal outlook for the rest of the year.
 
Take-Two interactive is biding its time for the release of Bioshock 2, Mafia 2, Max Payne 3, and Red Dead Redemption, four videogame titles that analysts predict will generate around $400 million in revenue for Take-Two. However, Take-Two does not expect to release these titles until next year, forcing the company to stay on the defensive for the rest of the fiscal year. 

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