Take-Two Expects ‘GTA VI’ Launch in Fall 2025, Cuts Bookings Forecast

Take-Two Interactive Software adjusted its fiscal 2025 bookings forecast on Thursday, citing the scheduled release of “Grand Theft Auto VI” in fall 2025 as a key factor. The New York-based video game publisher anticipates the highly-anticipated title to generate significant sales, aligning with projections from multiple analysts forecasting billions of dollars in annual revenue.

Following the announcement, Take-Two’s shares dropped 2.5% in after-hours trading. The company now expects fiscal 2025 bookings in the range of $5.55 billion to $5.65 billion, down from its earlier forecast of slightly over $7 billion.

The revised outlook reflects the impact of the delayed launch of “Grand Theft Auto VI,” a title expected to drive sales momentum in the years ahead. Despite the adjusted forecast, Take-Two remains optimistic about accelerating bookings from fiscal 2025 onward, bolstered by the GTA launch and a lineup of forthcoming releases, including titles from its recent acquisition of Gearbox Entertainment, known for the “Borderlands” series.

In a strategic move aimed at cost reduction, Take-Two recently downsized its workforce by approximately 5% and discontinued several development projects, mirroring industry-wide adjustments amidst slower consumer spending trends.

CEO Strauss Zelnick expressed confidence in the company’s future prospects, anticipating sequential growth in net bookings across fiscal 2025, 2026, and 2027. During a post-earnings conference call, company executives highlighted a pipeline of about 40 titles through fiscal 2027, with 16 slated for release in fiscal 2025.

Analyst Michael Pachter from Wedbush Securities speculated on the potential revenue contributions from Gearbox Entertainment, suggesting incremental gains of $150 million in the current fiscal year and possibly $300 million to $400 million by fiscal 2027.

Despite a 3% decline in fourth-quarter bookings to $1.35 billion, Take-Two surpassed analysts’ expectations, who had anticipated an average of $1.30 billion, according to data from LSEG. Looking ahead, analysts foresee substantial growth in GTA Online following the launch of GTA VI, further buoying Take-Two’s future financial outlook.

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