Take-Two Takes Big Loss
- September 08, 2005 10:44 AM PST
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GTA: San Andreas publisher lowers its quarterly financial outlook.
In the San Andreas hot coffee wake, Take-Two interactive yesterday reported a broader loss for the third quarter and lowered its financial outlook for the entire year. The game publisher announced a $28.8 million (41 cents per share) loss, a figure that roughly doubles last year's $14.4 million (21 cents per share) third quarter loss results.The poor showing looks to be a direct effect of the ESRB ratings change of Grand Theft Auto: San Andreas to Adults Only (AO) in July. As a result, most American retailers removed and/or refused to sell the game in their stores.
It will be interesting to see how Take-Two's upcoming schoolyard brawler "Bully" and "The Warriors", a recreation of the 1979 gang movie of the same name, fare in the aftermath of the aforementioned scandal.
