Grand Theft Auto IV release date moved to early 2008

Yet another title won’t be hitting the shelves on time: Grand Theft Auto 4 (PS3, Xbox 360) expected to see an October release, but now it won’t be out until the fiscal second quarter of 2008 (February to April). Along Take-two’s major announcement are expected figures of financial losses this year, reports Reuters Canada.

Take-two chairman Strauss Zelnick was quoted saying “certain elements of development proved to be more time-intensive than expected.” The big man didn’t reveal any details, but we’d figure that a game of such scale would run into trouble prior to release.

The company expects some damage on their pockets due to the delay. Revenue was expected to reach US$ 950 million to US$ 1 billion for this fiscal year that ended October 31. These numbers may sound big enough, but June forecasts hoped for US$ 1.2 billion to US$ 1.25 billion. Take-Two’s shares suffered, dropping 8% from US$ 16.91 to US$ 15.55 on NASDAQ.

Yet another title won’t be hitting the shelves on time: Grand Theft Auto 4 (PS3, Xbox 360) expected to see an October release, but now it won’t be out until the fiscal second quarter of 2008 (February to April). Along Take-two’s major announcement are expected figures of financial losses this year, reports Reuters Canada.

Take-two chairman Strauss Zelnick was quoted saying “certain elements of development proved to be more time-intensive than expected.” The big man didn’t reveal any details, but we’d figure that a game of such scale would run into trouble prior to release.

The company expects some damage on their pockets due to the delay. Revenue was expected to reach US$ 950 million to US$ 1 billion for this fiscal year that ended October 31. These numbers may sound big enough, but June forecasts hoped for US$ 1.2 billion to US$ 1.25 billion. Take-Two’s shares suffered, dropping 8% from US$ 16.91 to US$ 15.55 on NASDAQ.