Take-Two reported their financial results for the past fiscal year and the numbers are looking good.
For the 12 months leading up to October 31, 2010 the company’s net revenue was $1.16 billion, a 65 percent increase over the previous year. This time last year the company was losing money but they have now regained profitability.
Much of that success is due in large part to Red Dead Redemption. Nearly eight million units have been shipped worldwide since its release back in May.
Take-Two CEO Ben Feder reflected on his company’s success in a year without their flagship franchise.
"We have achieved our goal of profitability in a year without a new release of Grand Theft Auto," he explained. "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."
