Video game publisher and developer Take-Two Interactive has posted a $55.5 million net loss
for the quarter ending July 31, a grim sight next to its $51.8 million profit in the year-ago quarter. The company reported revenue of $138.6 million -- about $10 million less than forecasted. In the same quarter last year, the publisher saw revenues skyrocket to $433.8 following the successful launch of Grand Theft Auto IV.
Despite its slump, Electronic Entertainment Design and Research analyst Jesse Divnich believes that Take-Two's moneymaking potential over the next couple of years is greatly underestimated. Unfortunately, with key titles like BioShock 2, Mafia II, Max Payne 3, and Red Dead Redemption delayed until the next fiscal year, the publisher remains heavily reliant on its Grand Theft Auto franchise.
According to Take-Two CEO Ben Feder, the aforementioned postponed titles are unlikely to arrive before January 31 of next year. Feder added that Take-Two is continuing to evaluate the optimal release window for the games, and expects them to launch in the first half of 2010.