Fergie's Tech Blog

'Hot Coffee' Burns Take Two

Via Red Herring.

Take Two is still feeling the burn from the “Hot Coffee Mod” that added sexually explicit material to Grand Theft Auto: San Andreas.

Shares of the New York City-based game developer fell a combined 9 percent over Thursday and Friday, after the company earlier this week reported a third-quarter loss of $28.8 million, nearly double the loss from the year before. Take Two lost $0.41 per share, while analysts surveyed by Thomson Financial had been expecting a loss of $0.38 per share.

The wider losses came as quarterly sales rose 6 percent to $169.9 million as revenues were kept in check by the fallout from the sexually explicit modification discovered in the company’s best-selling game.

posted by Fergie @ 9/09/2005 01:27:00 PM