Whoever said the video game industry was recession proof needs to get his head examined.
Capcom reports a profit drop of 90.4 percent year-over-year for the quarter ending June 30. Their profits have gone down from 2.2 billion yen in the same period last year, to 213 million yen this year.
Speaking to the press in a conference call earlier to this, in relation to its full-year financial results, Take-Two Interactive executives revealed that the GTA franchise has been responsible for nearly half of the company’s revenue this year.
Like that really surprises anyone.
The franchise took in over $710 million for the company this year, of the entire revenue total of $1,537.5 million for fiscal 2008.
All in all, that accounts for roughly 60% of Take-Two Interactive’s total publishing sales for the last 12 months.
Impressive? Just a bit.
Capcom has just announced its financial results for the three months ending September 30, showing a year-on-year increases in both sales of its games and its overall profits.
Net sales were up 0.4 percent over the same time last year, to ￥31.26 billion.
Net income was up a blistering 16.8% to ￥1.8 billion, compared to the corresponding previous period.
A much deserved boast for a great development company.
