Analyst: Take-Two 70 Percent Growth An 'Example' In Challenging Economy

It was a "dismal" month for NPD data, says Cowen Group analyst Doug Creutz -- but publisher Take-Two saw 70 percent software sales growth over the month. "Take-Two's October results are an example of how publishers can succeed despite a difficult industry environment," says Creutz, who saw the company exceed his estimates of 50 percent growth for the month. Both NBA 2K10 and Borderlands also beat expectations. NBA 2K10 sold 575,000 units over the month, a 60 percent year-over-year increase -- and it beat its rival, EA's NBA Live 10, by more than four-to-one, according to Creutz. He thinks the basketball title could sell 1.8 million units in its first year. As for surprise hit Borderlands, it sold 545,000 units across all its SKUs during the month, more than most analysts anticipated; Creutz has raised his estimates for this title, too, expecting it can sell 1.4 million units in its first year. Grand Theft Auto: Episodes From Liberty City, which puts both downloadable GTA IV episodes on one standalone disc, sold 57,000 units in the month -- despite being on sale for only three days. The episodes are also both available individually via download on Xbox Live Marketplace.