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Take-Two lifts annual revenue, profit forecasts as 'GTA VI' launch nears
Reuters • • technology
Key Points:
- Take-Two's shares rose 4% in extended trading after CEO Strauss Zelnick reported that "GTA VI" pre-orders are significantly exceeding initial expectations, though the company maintained its bookings forecast for the year.
- "GTA VI" is set to launch on November 19, nearly 13 years after its predecessor, with about 7.71 million digital pre-orders worldwide as of November 3, and a majority of buyers opting for the higher-priced "Ultimate Edition."
- Despite weaker demand for "NBA 2K27" due to competition, Take-Two anticipates increased bookings and engagement for the rest of the year driven by upcoming in-game content.
- The company raised its fiscal 2027 revenue forecast to a range of $7.98 billion to $8.18 billion and slightly increased its per-share profit outlook, while maintaining its annual bookings forecast at $8 billion to $8.20 billion.
- For Q2 ended September, Take-Two's total bookings declined 18% to $1.60 billion, missing estimates of $1.67 billion.
