Take-Two reports profit thanks to Red Dead Redemption

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Red Dead Redemption, a video game set in the Wild West, helped send game producer Take-Two Interactive ( TTWO ) into the black in its third fiscal quarter.

Red Dead Redemption, the company said, is enjoying strong sales: Nearly 7 million copies of the game have been sold since it was released in May. Overall, Take-Two's quarterly sales surged by 270 percent.

The revenue growth propelled the firm to solid profitability. Take-Two swung from a loss of 76 cents per share in the third quarter of 2009 to a profit of 14 cents in the same period this year - and it expects to report a profit for the full fiscal year, as well. Previously, it had forecast a loss.

"Take-Two is increasing its guidance for the fourth quarter and fiscal year ending October 31, 2010," the company said in its earnings release.

The video-game publisher may be able to sustain the momentum of Red Dead Redemption even longer. It expects to release three downloadable content packs between now and the end of the year; the next one should be released on September 21.

By Benjamin Foster ADNFCR-1724-ID-19935867-ADNFCR




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Personal Finance , Business , Technology

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