Take-Two Interactive profits surge 74%

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Friday, March 4, 2005 Take-Two, the company behind the Grand Theft Auto video game franchise, has reported a 74% rise in quarterly profits. The company also revealed that sales of its bestselling product; Grand Theft Auto: San Andreas had surpassed 12 million copies.

The company stated that profits were $55.2m up from $31.8m in the same quarter last year. Per share earnings were $1.19, comfortably ahead of analyst expectations of $1.09 a share. Sales also rose substantially, from $375.5m to $502.5m.

Despite the news shares in Take-Two drifted $0.45 lower to $37.42 due to the company forecasting a loss of 20 cents a share for the coming quarter.