Red Dead Redemption sells 5m as Take-Two swings to Q2 profit
BioShock, Liberty City and Major League Baseball boost second quarter; GTA IV sells 17m worldwide
Rockstar's Red Dead Redemption has sold over five million units since release on May 18, following a strong second quarter for publisher Take-Two.
The company recorded profits of $16.9 million in the three months ended April 30, compared to a loss of $10.4 million for the same period in 2009. Net revenues were up 54 per cent to $268 million, compared to $174.3 million the prior year.
Sales in the quarter were driven by BioShock 2, Grand Theft Auto: Episodes from Liberty City on the PlayStation 3 and PC, and Major League Baseball 2K10.
"Our better than expected second quarter results reflect the solid performance of our triple-A titles and continued strength of our catalogue business," commented chairman Strauss Zelnick.
"The successful worldwide launch of Red Dead Redemption reflects the unparalleled creative talent that is a distinguishing strength of Take-Two, and the title has set new benchmarks for quality and innovation. We are incredibly proud of our creative teams and their success in delivering some of the best interactive entertainment experiences."
The publisher cut losses for the first six months of the fiscal year, from $64.3 million in 2009 to $16.9 million. Net revenues were $431.2 million, up from $323.6 million last year.
As well as success with Red Dead Redemption, the company also announced Grand Theft Auto IV has now sold over 17 million units worldwide.
Upcoming games LA Noire, Mafia II and Sid Meier's Civilization V are all scheduled to release in the fourth quarter of the financial year, with Max Payne 3 delayed into fiscal 2011.
"The successful diversification of our portfolio and the ability to leverage our proven franchises has enabled Take-Two to strengthen its position as an industry leader," added Ben Feder, CEO of Take-Two.
"Our core business continues to gain momentum, and Rockstar's Red Dead Redemption is proving to be a hit. We'll continue to build upon this success in the second half of our fiscal year with the release of several titles from our proven franchises, including Mafia II, Sid Meier's Civilization V, NBA 2K11 and New Carnival Games."