Take-Two Reports Record Profit in 2008 as GTA 4 Produces $710M
The company's 2008 net income was $97.1 million, as compared to a net loss of $138.4 million in 2007.
Take-Two representatives noted that Grand Theft Auto IV accounted for $710 million of its $1.5 billion total revenue in 2008, which amounts to approximately 60% of its total publishing take.
As investors balked at Take-Two's projection of slow sales through the holiday season and into 2009, the publisher nailed down long-term contracts with key Rockstar talent, and played up its 2009 lineup.
Take-Two mentioned that one major Rockstar game is expected to hit in 2009--possibly the long-in-development title L.A. Noire. Also confirmed was Take-Two's intention to drop Champions Online from its publishing slate following Atari's acquisition of Champions developer Cryptic Studios.
Highlights from Take-Two's 2009 portfolio include two Grand Theft Auto IV DLC packs, Grand Theft Auto: Chinatown Wars (NDS), BioShock 2, Mafia II (PC, 360, PS3), and Borderlands (PC, 360, PS3).
