Take Two Reports Better Than Expected Financials For Q2

Take-Two Reports Better-Than-Expected Financials For Q2

Published June 9, 2010

By Eric Fisher, Staff Writer, SportsBusiness Journal

Take-Two Interactive, parent of 2K Sports, late yesterday reported strongly improved and better-than-expected financial results for its second fiscal quarter. The company generated $268M in revenue, up 54% from the same quarter a year ago, and net income during the quarter swung from a loss of $10.1M to a profit $16.8M. Several titles across various genres were credited for the turnaround, including this spring's launch of "MLB 2K10" and still-strong catalog sales for "NBA 2K10," which now has surpassed 3 million units sold. Take-Two, however, did not alter previously stated expectations of a loss this year between $30-35M from its production of licensed MLB games.