2k7 survives(along with the rest of Take-two Less Losses)

[yungflo]

Take-Two Loses Less in Q1
The company is still blaming the transition to next-gen for its losses.
by Daemon Hatfield

March 12, 2007 - Take-Two has announced its financial report for the fiscal quarter ended January 31, 2007. The company still suffered a loss, but not as large as last year's.

While the company is still playing the next-gen transition card to explain its losses, strong sales of NBA 2K7, Grand Theft Auto: Liberty City Stories on PS2, and San Andreas in Japan helped to narrow those losses. Net revenue for the first quarter was $277.3 million compared to $265 million for the first quarter of fiscal 2006. Net loss for the quarter was $21.5 million compared to $29.1 million in the prior year's first quarter. The loss includes $6.4 million for legal and other professional fees associated with the company's recent investigation of stock option grants and the Company's responses to the New York County District Attorney's subpoenas.

According to Gamasutra, analysts think Take-Two will need more than GTA to lift it out of these dire financial straights. "We think that Take-Two's flagship franchise, Grand Theft Auto, will continue to generate significant profits, but it is clear that the profit potential from its sports business and from 'everything else' will not be realized in fiscal year 2007," says Wedbush Morgan's Michael Pachter. "If the company achieves merely 'breakeven' results, profits from GTA will be fully offset by losses from everything else."

IGN: Take-Two Loses Less in Q1

If i'm not mistaken, I think it says 2k7 is selling like crazy on PS2? well, its on next gen as well especially on ps3 because NBA LIVE never came out on ps3 2K7 ain't going nowhere!!