Take-Two sticks with ‘GTA VI’ launch timeline, forecasts annual bookings below estimates

Take-Two Interactive forecast annual bookings below ​Wall Street expectations on Thursday, but reiterated the November 19 ‌launch date for the highly awaited “Grand Theft Auto VI,” sending its shares up around 7% in extended trading. Investors and analysts are keeping a close watch on the launch ​of “GTA VI”, as the title is expected to be a cash ​cow for Take-Two, potentially selling millions of copies and bringing in ⁠billions in revenue within days of launch.

The company is looking to ​replicate and build on the success of the title’s predecessor, “GTA V,” especially its ​multiplayer component, which has been a consistent source of income through the purchase of in-game currency. “GTA V” has sold nearly 230 million units since its launch in 2013, executives ​said on a post-earnings conference call. Even as the firm faces strong competition ​from rival publishers Electronic Arts and Microsoft’s Activision Blizzard, “GTA VI” is expected to stand ‌out ⁠due to the immense popularity of the franchise and the track record of Rockstar Games, a unit of Take-Two and the game’s developer. The “GTA VI” launch date “was the primary focus heading into the print, given Rockstar’s history of delaying ​at the 6-month ​mark or further ⁠out,” said Wedbush Securities analyst Alicia Reese.

Take-Two expects fiscal 2027 bookings of $8 billion to $8.20 billion, compared with analysts’ average ​estimate of $9.10 billion, according to data compiled by LSEG. Apart ​from “GTA VI,” ⁠Take-Two’s videogame pipeline includes other premium titles, such as its annual “NBA 2K” basketball games, and new mobile games, which have seen a rebound in spending over ⁠the ​past year. The company, however, forecast first-quarter bookings ​of $1.32 billion to $1.37 billion, below estimates of $1.51 billion. It reported bookings of $1.58 billion in the fourth quarter, ​beating estimates of $1.57 billion.