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Follow us on FacebookTake-Two sees profit slump
@ 2017/02/08Higher royalty payments
Take-Two Interactive Software which is known for the "Grand Theft Auto" video game series, is not doing so well.
The outfit cut its profit forecast for its fiscal year 2017, largely due to higher royalty payments.
Chief Financial Officer Lainie Goldstein said the bleaker outlook was because there were higher internal royalties resulting from the continued outperformance of Grand Theft Auto V and Grand Theft Auto Online.
Take-Two Interactive Software which is known for the "Grand Theft Auto" video game series, is not doing so well.
The outfit cut its profit forecast for its fiscal year 2017, largely due to higher royalty payments.
Chief Financial Officer Lainie Goldstein said the bleaker outlook was because there were higher internal royalties resulting from the continued outperformance of Grand Theft Auto V and Grand Theft Auto Online.
