It’s the proverbial case of good news bad news. Having reported good news, I must do my bidding and report that Take-Two has come out with financial figures for Q2 2009 and as expected picture is far from being perfect. Reporting decreased revenue and net loss to the tune of $10.1 million, reports are sorry indeed. Take-Two Interactive has reported net Revenue at $229.7 million and a loss of $10.1 million. In the second quarter of 2008 the figure for net revenue stood at $539.8 million, leading to a profit of $98.2 million. Company’s chairman Strauss Zelnick had this to say:
Recognising that this remains a challenging environment for our industry and the consumer marketplace generally, we are sharply focused on executing our business plan and working to enhance shareholder value.
Partly these figures could be explained by the current global outlook. Indeed publisher noted that $5.3 million of its net loss included stock-based compensation expense and another $1.8 million was due to “professional fees and expenses related to unusual matters.” Combined figures for the first half of 2009 have also been reported. Total revenue in six months stood at 486.5 million and net loss at $60.5 million. Take-Two, after announcing a delay of its two major titles: Mafia II and Red Read Redemption, has lowered its revenue expectations for Q3 and Q4 as well. Read more in the full press release here.