Take-Two reports net revenue of $433m

Third-quarter sales and income boosted by high-profile releases

Take-Two Interactive Software has released its third quarter financial results for the three-month period ended July 31, reporting net revenue of USD 433.8 million, up from USD 206.4 year-on-year.

Net income for the third quarter was USD 51.8 million, or USD 0.67 per share, compared to a net loss of USD 58.5 million or USD 0.81 per share at the same point last year. Take-Two attributed much of its success to sales of Grand Theft Auto IV, Top Spin 3 and Sid Meier's Civilization Revolution.

For the nine months to July 31, net revenues were USD 1.2 billion, compared to USD 689.2 million for the same period the year before. Net income reached USD 112.1 million, or USD 1.48 per share, up from a loss of USD 131.3 million, or USD 1.83 per share, for the previous year.

"Take-Two's exceptionally robust third-quarter results reflected our continuing efforts to build a diverse roster of outstanding entertainment software brands, supported by an increasingly productive and efficient business organization," said Strauss Zelnick, chairman of Take-Two.

"Thanks in particular to the creativity of our global development teams and their passion for producing great entertainment, we are benefiting from a portfolio that is the strongest in our Company's history, as well as one of the most valuable in our industry."

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