Take-Two Interactive Software Inc. announced yesterday their twelve and three months financial results. In summary, for the twelve months ended October 31, 2010, net revenue grew 65% year-over-year to $1.16 billion compared to a loss of $130.4 million, or $1.70 per share, from a year ago. And for the three months ended in the same period (October 31, 2010), net revenue grew 32% year-over-year to $373.7 million. Big contributions came from titles like Mafia II, Red Dead Redemption, Sid Meier’s Civilization V, NBA 2K11 – with NBA 2K11 selling more than three millions units worldwide.
“We have achieved our goal of profitability in a year without a new release of Grand Theft Auto. 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.” Ben Feder, CEO of Take-Two.
With the cancellation of NBA Elite 11 from EA Sports, NBA 2K11 market share grew. Hopefully this trend will continue with other titles like MLB 2K11 and with a 1 year hiatus of NHL 2K for PS3 and Xbox360 both in gameplay and commercial success.