Take-Two’s Losses Decrease

Take-Two’s financial results were revealed this evening showing an improved performance for Q1 2010 compared to the same period last year.Take-Two are still seeing losses but net loss from continuing operations for the first quarter was $33.8 million, compared to a net loss from continuing operations of $53.8 million in the first quarter of fiscal 2009.Take-Two is currently restructuring their operations to fit with their current goals and there will be a 15% reduction in their workforce along with “other cost savings initiatives”. Take-Two expect to save $8 million for the 2010 fiscal year once the cost cutting measures are in place.Highlights from this evening’s call include:2K Games launched BioShock 2 globally on February 9. The title has been a commercial and critical success, and has shipped over 3 million units to date. The original BioShock title launched in August 2007 has now sold over 4 million units, bringing the total sales of the franchise to 7 million units.NBA 2K10 from 2K Sports has shipped over 2 million units. The title continues to be the #1 selling and #1 rated basketball game for the XBox 360 and PlayStation 3 through January 2010, according to The NPD Group’s estimates of U.S. retail video game sale. Grand Theft Auto IV from Rockstar Games has sold over 15 million units globally.2K Play’s Carnival Games franchise has sold over 6 million units worldwide on the Wii and DS.