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Reading: GTA 6 Release Uncertain by March 2025, Take-Two’s Revised Forecast Indicates
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Grand Theft Auto VI
PhotoNews Pakistan > Tech > GTA 6 Release Uncertain by March 2025, Take-Two’s Revised Forecast Indicates
Tech

GTA 6 Release Uncertain by March 2025, Take-Two’s Revised Forecast Indicates

Web Desk
By Web Desk Published February 11, 2024 2 Min Read
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Grand Theft Auto. Photo: Rockstar Games
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Take-Two Interactive Software, the parent company of popular gaming titles like NBA 2K, reported its fourth-quarter bookings forecast falling short of market predictions, leading to a 10 per cent decline in shares post-market on Thursday.

The company also revised its annual estimates downward, attributing the adjustment to reduced consumer spending and intense competition from industry giants such as Electronic Arts and Microsoft’s Activision Blizzard.

Grand Theft Auto VI trailer launched in December 2023 and broke YouTube’s records for a non-music launch, including 93 million views in 24 hours.

– Via Take-Two Interactive press release. pic.twitter.com/GicuYnWmQz

— Detective (@that1detectiv3) February 8, 2024

The company now expects fourth-quarter bookings to be between $1.27 billion and $1.32 billion, notably lower than the anticipated $1.51 billion based on LSEG data. Furthermore, Take-Two adjusted its full-year bookings forecast to between $5.25 billion and $5.30 billion from the previously projected range of $5.45 billion to $5.55 billion.

Analyst Michael Pachter from Wedbush Securities remarked that the forecast reduction primarily results from deferral a game release beyond the fiscal year, suggesting a minimal impact on the company’s long-term outlook. However, the updated forecast of just over $7 billion for fiscal 2025 net bookings, down from the prior expectation of below $8 billion, has dampened investor enthusiasm. This revision has led to speculation about the delayed release of Grand Theft Auto VI, which is anticipated to boost the company’s performance with its 2025 launch.

In the third quarter, Take-Two’s net bookings decreased by 3% to $1.34 billion, aligning with analyst predictions. CEO Strauss Zelnick highlighted that while GTA Online and the Red Dead Redemption series performed well, the company faced challenges in mobile advertising and NBA 2K sales. The company reported adjusted earnings of 71 cents per share, slightly below the expected 72 cents.

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