Take-Two posts profit, Red Dead Redemption ships 'nearly' 8 million

Publisher nearly $50 million in the black during non-GTA year thanks to Western adventure; NBA 2K11 ships 3 million; annual revenues up 65%.

Traditionally, Take-Two Interactive has lost money during years it hasn't released a major new Grand Theft Auto product. This year turned out to be the exception. Today, the publisher reported earnings for the 12 months ended October 31, which saw revenue rise 65 percent to $1.16 billion. The company also turned a profit of $49.7 million, way up from the $130 million loss it suffered a year prior.

Red Dead Redemption's near-8 million units shipped was a major factor behind Take-Two's profitable year.

"We have achieved our goal of profitability in a year without a new release of Grand Theft Auto," said outgoing CEO Ben Feder in a statement. "Our better-than-expected revenue growth and margin expansion were driven by strong demand for our diverse portfolio of games, including the hit new titles Red Dead Redemption and NBA 2K11, as well as strong sales of catalog titles and digitally delivered content. I am also pleased to report that our 2K Sports division was profitable during the period."

Thanks to the cancellation of Electronic Arts' NBA Elite 11, NBA 2K11 was unopposed in the basketball sim market, allowing it to ship 3 million units worldwide. As a result, it dominated its release month of October, according to sales rankings from the NPD Group. The game's success contributed to August-October revenues climbing 32 percent to $373 million, generating a quarterly profit of $54.2 million--up from a $7.9 million loss the year prior.

Another factor for Take-Two's August-October quarter was ongoing sales of such games as Sid Meier's Civilization V, Grand Theft Auto IV: Complete, and Mafia II. Red Dead Redemption also continued to sell well, nearing 8 million in worldwide sales during the period.

Today also marks the last time Take-Two will report earnings for a fiscal year ending on October 30. In October, the company announced it was shifting its fiscal year to end on March 31 to put it better in line with other publishers' fiscal years.

Looking ahead, the company expects $290 million to $315 million in revenues and earnings per share of $0.25 to $0.35 for the revised current October-December quarter. For the following quarter, ending March 31, Take-Two estimates revenues of $100 million to $150 million and a loss of between $0.50 to $0.60 per share. For the full revised fiscal year ending March 31, the publisher projects revenues of $1 billion to $1.1 billion and earnings per share of $0.50 to $0.65.

For the remainder of its new fiscal year, Take-Two expects to release Top Spin 4 and Major League Baseball 2K11 during the January-March quarter. L.A. Noire has a spring 2011 release, and executives said it would not be released during its current fiscal year during a post-earnings conference call. Duke Nukem Forever has a calendar year 2011 release window, with Spec Ops: The Line and XCOM both due sometime during the company's 2012 fiscal year, which begins on April 1, 2011. Lastly, BioShock Infinite will ship sometime during calendar year 2012.

Written By

Want the latest news about Red Dead Redemption?

Red Dead Redemption

Red Dead Redemption

Follow

Discussion

109 comments
swamptick
swamptick

No dude. For a game like RDR, 8 million is very impressive.

steelmouth
steelmouth

not that 8mil is not impressive but i thought RDR did more than that maybe 10mil?

method115
method115

@Little_Socrates Yea I've heard nothing but good things about the game from reviews to my friends who played it. I don't really mind to much that it remsembles. GTA4 because that is one of my favorite games this gen. I'm just afraid it will be so familiar that I'll get bored of RDR quickly. Thats why I'm waiting for more price drops before I buy it.

chaldoboy14
chaldoboy14

I'm glad it's such a big success, one of the best game this year by far. So much reason to keep playing after the main storyline, and that's the kind of game I like. No 8 hr campaign followed by nothing to do bs. Plus how can you forget the Undead add-on, a completely new campaign. Not as big and deep as the original storyline obviously, but enough to keep playing. This is what you call a full game that doesn't make you pay loads for DLC to get what becomes a full game after paying $80+

ziproy
ziproy

[This message was deleted at the request of a moderator or administrator]

shansss123
shansss123

i want the pc version with super graphics

Barighm
Barighm

About time. Funny how Take Two has so many money problems considering the great games they produce. Guess they suck with money...or they really want to fund great game development.

junor69
junor69

its funy how piracy dosent effect good games, only crapy ones ;)

abosolom2010
abosolom2010

I don't know why ROCK STAR didn't even announce anything about releasing RDR for pc. IT must be yes or no

calm_syrface
calm_syrface

Boy EA dropped the ball big time this year...no pun intended.

cavieblaze420
cavieblaze420

red dead redemption is the best game these year i hope rockstar shows gta5 and agent at E3

brok
brok

C'mon guys, it's totally Grand Theft Horse and therefore IS a GTA year...

Sablicious
Sablicious

So much for piracy killing the industry - lol!

eddli
eddli

Seriously, where is Red Dead for PC? dont even say piracy issues cuz console piracy is out of control too.

lordkorosh
lordkorosh

this result show how gamers are smart they buy a game worth their money,even take-two which is a fames studio because of grand theft games has to make good and fun games as good as grand theft to make money.

Dynamo11
Dynamo11

They deserve it, Red Dead Redemption is one of the best games I have played for a while

hotfiree
hotfiree

The game is one of the best looking games this generation on consoles, imagine how good it would look on PC.

CTR360
CTR360

REDEMPTION its awesome i hope sequel coming

Smoothy08
Smoothy08

[This message was deleted at the request of the original poster]

BurningChrome
BurningChrome

Great job Take Two! Way to post black : ) Personally, I love Red Dead!

MJ12-Conspiracy
MJ12-Conspiracy

Red Dead was and is way too overrated but it's achievements is impressive.

WafflePrime
WafflePrime

and Marston loses the VGA best character award to some idiot from Black Ops... sad

Aletunda
Aletunda

Red dead was great, but it needed more multiplayer game modes included on the disc, there was really just deathmatch and capture the bag with team/free for all variations, not very open minded on what the west could of done for multiplayer

JimBob2424
JimBob2424

Would have been an even bigger profit if they'd released Red Dead on PC as well. Not that I'm bitter I don't own a console or anything...

THE-ZOZ
THE-ZOZ

L.A Noire,Duke Nukem, Spec ops,XCOM and not to mention Bioshock Infinite, all those potentially AAA titles coming up in the next 2 years and published by 1 company (Take-Two), i`m surprised they are not bigger than Activision!!

buft
buft

they definetly deserved it this year, red dead was one of the best experiences on any system and the undead collection just adds to that.

thelegendlives5
thelegendlives5

Eight million satisfied people. Sounds good to me :)

MattDeVito
MattDeVito

@Little_Socrates, if you haven't played the next gen GTA then please don't compare it to RDR. I understand that you may have played GTA Vice City and it is in many ways similar to GTA 4, but the change in atmosphere and the tweaking of the mechanics do a lot for the general game experience. The story and characters, also, change things a TON! Another valid point is that in GTA 4, things take place in the age of information. You kill someone, even if they're a mugger, and everyone knows it and the police are after you. That's not the law of Vice City in the 80's, and if you find a bunch of coke heads taking a woman hostage, you can ice them, and you'll actually gain fame and honor for that. I haven't played GTA Vice City, but GTA 4 is much more expertly crafted than the old GTA games. Overall, they're all the same in story and characters anyway so this game has pretty much been done before

ZoTrAcK
ZoTrAcK

f the numbers and expectations, just make good games :-)

TurambarGS
TurambarGS

I'm glad they're turning a profit - big fan of Take-Two titles - they have some of the best stories in the entire gaming industry. Hope they're putting out games for years to come.

RonTorque
RonTorque

RDR was simply the best among everything this year.

demonic_85
demonic_85

Wow, impressive numbers for sure. I still havent had time to sit down and play this one yet.

MERGATROYDER
MERGATROYDER

RDR had flaws which didn't keep me playing it. Hopefully they have patched the game so I can continue. TT deserves the money, so congrats and give me GTA:V already.

majere613
majere613

Quite simply, I enjoyed RDR instead of GTA because in RDR, you can actually conduct yourself like a decent human being and still do most of the content. Marsden is a brilliantly sympathetic protagonist. Only a few little flaws, like the clumsy controls for lassooing, infinite bandits and IMHO a bit of a silly ending dented it for me.

Little_Socrates
Little_Socrates

@method115: Red Dead Redemption is in many ways similar to GTA, but the change in atmosphere and the tweaking of the mechanics do a lot for the general game experience. The story and characters, also, change things a TON! Another valid point is that in GTA, things take place in the age of information. You kill someone, even if they're a mugger, and everyone knows it and the police are after you. That's not the law of the west, and if you find a bunch of bandits taking a woman hostage, you can ice them, and you'll actually gain fame and honor for that. I haven't played GTAIV, but RDR is much more expertly crafted than the old GTA games.

buying1999
buying1999

RDR was a completely awesome and beautiful game with good frame rates, beautiful lighting, beautiful shawdos, lots of alph textures, and hd resoultion....all on 360 that is.

Little_Socrates
Little_Socrates

Glad to hear RDR sold gangbusters for Take-Two, as I'm a big fan of their games. Looking forward to L.A. Noire, Duke Nukem, and whatever else they offer next year, as I know 2012 will be a great year for them with BioShock Infinite on the way.

fahim_sinister
fahim_sinister

if any game is worth playing than its RDR........way to go Rock*

fahim_sinister
fahim_sinister

if any game is worth playing than its RDR........way to go Rock*

riou7
riou7 moderator moderator

RDR was awesome :)

lindallison
lindallison

I do hope this encourages them to greenlight a PC version of Redemption - looks like a great title well worth the effort even if it suffers GTA4-esque PC growing pains.

SicklySunStorm
SicklySunStorm

Well deserved. RDR was in my top 3 this year; God of War III 1st, RDR 2nd and New Vegas 3rd.