Take-Two Interactive Wrangles $42.6 million in Profit; Shares Jump 8 Percent

December 17, 2010 3:30 PM

Yesterday, Take-Two Interactive announced that its net revenue earnings increased to $1.16 billion for the 12 month period, ending October 31, 2010. The jump represents a growth of 65 percent over the same reported period last year. Deducting necessary operating expenses and taxes, the company pulled a profit of $42.6 million for the year.

In the period, Take-Two launched a number of critically acclaimed titles, including Red Dead Redemption, NBA 2K11, and Sid Meier's Civilization V. Citing the open-world western title and the industry's lone simulation basketball game for 2010, specifically, outgoing Take-Two CEO Ben Feder reminded all that the company was able to increase sales and return to profitability "without a new release of Grand Theft Auto."

Feder also pointed to "strong sales of catalog titles and digitally-delivered content" as major contributing factors in the company's bloated wallet. According to the CEO, the 2K Sports division was profitable during the period.

In the same reported period last year, Take-Two saw a net loss of $140.5 million.

A day after announcing its results for the 12 month period, Reuters reports that Take-Two shares have increased by 8 percent.

Xav de Matos

Xav de Matos was previously a games journalist creating content at Shacknews.

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