“Grand Theft Auto 6” is scheduled to be released in the fall of 2025 by Rockstar Games.
The news was announced on Thursday when Rockstar’s parent company Take-Two Interactive reported its fourth-quarter and full fiscal year 2024 earnings, revealing that the company posted a loss of $2.9 billion for the period from January 1 to March 31.
Take-Two’s latest guidance for the quarter was for a loss of $170 million to $153 million. The company says its fiscal fourth-quarter loss of $2.9 billion included goodwill charges of $2.18 billion, $304.3 million in acquisition-related expenses, and restructuring costs of $93.3 million.
Take-Two isn’t ready for more specific information on a “fall 2025” release date for “GTA VI,” with CEO Strauss Zelnick saying, “I think we’ll leave it there for now,” in an interview with diverse Ahead of the company’s quarterly earnings announcement at 4:30 PM ET on Thursday. “Which [announcement] “It will come from Rockstar and will be consistent with how they market the title,” Zelnick said.
The trailer for the eagerly anticipated “Grand Theft Auto 6” smashed viewing records on YouTube when it was released in December, indicating intense demand for the title more than a decade since the release of “GTA V.”
The Take-Two CEO also addressed the recent layoffs that have taken place at the company — and throughout the gaming industry in general — saying he doesn’t expect more cuts in the future.
“We feel like we’re in a pretty good place right now,” Zelnick said. We’ve had three cost reduction programs in recent memory: a $100 million program, which we passed as part of the Zynga integration in 2022, a $50 million program, which we passed, and now, most recently, a $165 million program to contain costs and reduce actual costs. Our three-part strategy is to be the most creative, efficient and innovative company in entertainment. We don’t always get there, but we sure try. I think this puts us in a very sound position from an efficiency standpoint.
Zelnick says he expects Take-Two to finalize its acquisition of Gearbox “relatively soon,” bringing the developer of “Borderlands” and “Tiny Tina’s Wonderland” to franchise publisher 2K. He also expects sequential revenue growth for Take-Two in fiscal 2025, 2026 and 2027.
For Take-Two’s fourth quarter, Wall Street expected 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 net bookings of $1.35 billion, compared to the same quarter last year when it reported a loss of $610.3 million and net bookings of $1.39 billion.
The games that led the net bookings for this quarter were “NBA 2K24”, which sold more than 9 million units, “Grand Theft Auto Online”, “Grand Theft Auto V”, “Toon Blast”, and “Empires & Puzzles”. and “Red” mobile games. Dead Redemption 2,” “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 to March 31, 2024, Take-Two reported $5.35 billion in total revenue 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, to March 31, 2025, and a net loss of $674 million to $606 million.
“Grand Theft Auto 6” will be released during Take-Two’s fiscal year 2026, meaning the company is not attributing any of its estimated fiscal year 2025 revenue to the game’s upcoming release.
For the current quarter from April 1 to June 30, 2024, Take-Two expects net bookings of $1.2 to $1.25 billion and revenue of $1.3 to $1.5 billion. Net loss is expected to be between $272 and $245 million, with a loss of between $1.58 and $1.43 per share.
Take-Two stock closed Thursday at $146.08 per share. U.S. regular stock markets will reopen at 9:30 a.m. ET on Friday.
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