Take Two beats expectations with strong first quarter
US publisher Take Two Interactive had announced strong sales and profits for the first quarter of fiscal 2005, which ended on January 31st, and significantly raised its guidance for the rest of the year.
US publisher Take Two Interactive had announced strong sales and profits for the first quarter of fiscal 2005, which ended on January 31st, but its guidance for the rest of the year remains conservative.
The firm reported sales of $502.5 million in the quarter, up from $375.5 million in the same period last year - an increase of 34 per cent - while profits rocketed by 74 per cent to $55.2 million.
Much of the company's success during the quarter can be attributed to Grand Theft Auto: San Andreas, which dominated the pre-Christmas markets in both Europe and North America and has now sold 12 million copies worldwide.
It's not over for GTA this financial year, though - as well as continued sales of San Andreas on PS2, the company will launch PC and Xbox versions in the third quarter, which runs from May to July, with a PSP version of Grand Theft Auto also set to launch in the same timeframe.
Taking into account the strong Q1 results, Take Two has lifted its revenue guidance for the full year to $1.325 billion, well ahead of most analyst estimates.
In terms of other game releases, Rockstar's latest, The Warriors, has slipped back once more and is now scheduled for September, while Midnight Club: DUB Edition remains on track for April on PC and consoles.