Take-Two Interactive Sets 'Grand Theft Auto VI' Release Date
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Key TakeawaysTake-Two Interactive said its highly anticipated “Grand Theft Auto VI” video game would be released in the fall of 2025.Previously, it had said that the latest version of the hit franchise would be released sometime next year but didn't specify a timing.Take-Two Interactive warned, however, that because of the timing of the game's release, it reduced its forecast for fiscal 2025 net bookings.
Take-Two Interactive Software (TTWO) shares edged higher in intraday trading Friday, a day after the video game maker said the highly anticipated latest version of its "Grand Theft Auto" franchise would be released in the fall of 2025.Previously, it had said that “Grand Theft Auto VI," produced by subsidiary Rockstar Games, would be released sometime next year but didn't specific a timing.Lowers Forecast for Fiscal 2025 Net BookingsTake-Two said, however, that it now anticipates fiscal 2025 net bookings to be in the range of $5.55 billion to $5.65 billion due to "a narrowing of Rockstar Games' previously established window of Calendar 2025 to Fall of Calendar 2025 for Grand Theft Auto VI."Take-Two had predicted fiscal 2025 net bookings to be at just above $7 billion previously.Q4 Revenue Beat But Much Wider Net Loss Than ExpectedThe company also announced fiscal 2024 fourth-quarter results Thursday. Net bookings fell 3% from a year ago to $1.35 billion, although that beat Wall Street analysts' forecasts, while revenue also declined 3% to $1.40 billion, also above estimates. Take-Two posted a net loss of $2.90 billion, or $17.02 per share, much more than analysts anticipated, including $2.18 billion in goodwill impairment.Shares of Take-Two Interactive Software rose 0.5% to $146.83 as of 12:30 p.m. ET Friday, but are down 9% this year. Read the original article on Investopedia.
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