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TTWO Sales Triple "X-BOX " redesign in part Responsible



September 03, 2010 – Comments (0) | RELATED TICKERS: TTWO , MSFT , SNE

Red Dead Redemption, more than four years in development, was created by Rockstar Games, a unit of Take-Two that also makes Grand Theft Auto. The game, set in the Wild West in the early 20th century, has been well received by critics.

Red Dead, one of a handful of major console games released this summer, benefited from strong sales of the redesigned Xbox game console from Microsoft and lower prices for Sony PlayStation 3, said Mike Hickey, an analyst for Janco Partners.

Take-Two said third-quarter net income was $5.92 million, or 7 cents a share, in contrast to a loss of $56.5 million, or 73 cents, a year earlier. Revenue more than tripled, to $354.1 million, from $94.9 million.

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