‘Grand Theft Auto 6’ to be released as Take-Two in fall 2025 and post quarterly loss of $2.9 billion

“Grand Theft Auto 6″ is scheduled for release in Fall 2025 by Rockstar Games.

The news was announced Thursday as Rockstar parent Take-Two Interactive reported its fourth-quarter and full-year 2024 earnings, showing the company posted a $2.9 billion loss for the period January 1 through March 31 .

Take-Two’s most recent guidance for the quarter was for a loss between $170 million and $153 million. The company said its fourth-quarter fiscal loss of $2.9 billion included a goodwill charge of $2.18 billion, a loss of $304.3 million for acquisition-related costs and restructuring costs of $93.3 million.

Take-Two isn’t willing to get more specific than “Fall 2025” for the release date of “GTA VI,” with CEO Strauss Zelnick saying, “I think we’ll leave it at that for now,” in an interview with Variety ahead of the company’s quarterly earnings call on Thursday at 4:30 PM ET. “That [announcement] will come from Rockstar and be consistent with how they market the title,” Zelnick said.

The trailer for the highly anticipated “Grand Theft Auto 6” broke viewership records on YouTube when it was released in December, indicating the extreme demand for the title after more than a decade since the release of “GTA V.”

The Take-Two chief also addressed the recent layoffs at the company — and across the gaming industry in general — and said he doesn’t expect any more cuts to come.

“We feel like we’re in a really good place right now,” Zelnick said. We have had three cost savings programs in recent history: a $100 million program, which we exceeded as part of the Zynga integration in 2022, a $50 million program, which we exceeded, and now, most recently, a program of $165 million. of cost control and actual cost reduction. Our three-part strategy is to be the most creative, most efficient and most innovative company in the entertainment industry. We don’t always succeed, but we certainly try. I think this gives us a very good foundation from an efficiency point of view.

Zelnick says he expects Take-Two to complete its acquisition of Gearbox “relatively quickly,” bringing the developer of “Borderlands” and “Tiny Tina’s Wonderland” in-house for the franchise’s publisher, 2K. He also expects sequential revenue growth for Take-Two in fiscal 2025, 2026 and 2027.

For Take-Two’s latest quarter, Wall Street forecast earnings per share (EPS) of 9 cents on $1.3 billion in net bookings, according to analyst consensus data provided by LSEG, formerly Refinitiv. Take-Two reported a loss per share of $17.02 on $1.35 billion in net bookings, compared to the year-ago quarter when it reported a loss of $610.3 million and net bookings of $1.39 billion.

Top net bookings for the quarter were ‘NBA 2K24’, which sold more than 9 million copies, ‘Grand Theft Auto Online’ and ‘Grand Theft Auto V’, ‘Toon Blast’, ‘Empires & Puzzles’ and mobile games ‘Red Dead Redemption 2” and “Red Dead Online,” “WWE 2K24,” “Match Factory!”, “Words With Friends” and “Merge Dragons!”

For the full fiscal year 2024, which included results from April 1, 2023 through March 31, 2024, Take-Two reported total revenue of $5.35 billion and a net loss of $3.7 billion.

Take-Two expects net bookings of $5.55 to $5.65 billion for fiscal 2025, which runs from April 1, 2024 through March 31, 2025, and a net loss of between $674 and $606 million.

“Grand Theft Auto 6” will be released during Take-Two’s fiscal year 2026, meaning the company will not allocate any of its estimated fiscal 2025 revenue to the game’s upcoming release.

For the current quarter of April 1 through June 30, 2024, Take-Two forecasts net bookings of $1.2 to $1.25 billion and revenue of $1.3 to $1.5 billion. Net loss is projected between $272 million and $245 million, for a loss of $1.58 to $1.43 per share.

Take-Two stock closed at $146.08 per share on Thursday. Regular U.S. stock markets will reopen at 9:30 a.m. ET on Friday.

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