Bruin Sports Buys Video Streaming Firm Nike's North American Profits Take Dip Titleist Owner Acushnet Files For IPO Sources: DraftKings, FanDuel In Talks For Merger WME-IMG Expanding Its Chinese Business WinView Brings In $3.4M In Funding Round Under Armour To Lose $120M In Sales Acushnet Reportedly Prepping For IPO MP & Silva Sells Controlling Stake Judge OKs Sports Authority Sales Plan
Take-Two Reports Better-Than-Expected Financials For Q2
Published June 9, 2010
Take-Two Interactive, parent of 2K Sports, late yesterday reported strongly improved and better-than-expected financial results for its second fiscal quarter. The company generated $268M in revenue, up 54% from the same quarter a year ago, and net income during the quarter swung from a loss of $10.1M to a profit $16.8M. Several titles across various genres were credited for the turnaround, including this spring's launch of "MLB 2K10" and still-strong catalog sales for "NBA 2K10," which now has surpassed 3 million units sold. Take-Two, however, did not alter previously stated expectations of a loss this year between $30-35M from its production of licensed MLB games.