Take-Two sees profit slump
 

Higher 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.

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