Take-Two posts $55 million Q3 loss

Publisher Take-Two has posted a 55.5 million loss for Q3 2009 – a $100 million drop compared to the year before.

The firm’s revenue also fell, dropping from $433.8 million in Q3 2008 to $138.6 million in 2009. However, it’s important to note that the big selling GTA IV was released during Q3 2008.

For the nine months ending July 31st 2009, the company’s net revenue reached $625.1 million, compared to $1,214.1 million for the same period a year ago. Net loss for the nine-month period hit $115.9 million.

Lack of major new releases has been responsible for the results, with many of Take-Two’s biggest releases, including Mafia II, Red Dead Redemption, Agent, Bioshock 2 and Max Payne 3, due in 2010.

Take-Two’s big Christmas title is upcoming new IP, Borderlands.