Take-Two touts 'unprecedented GTA VI pre-orders', but maintains bookings target

On August 7, Take-Two Interactive disclosed unprecedented demand for its upcoming title, Grand Theft Auto VI, signaling a likely significant increase in the company's revenue following the November release. Despite the surge in pre-orders, the publisher remains committed to its full-year bookings forecast, with CEO Strauss Zelnick expressing cautious optimism regarding the game's reception.

Pre-orders for GTA VI commenced on June 25, marking the end of a lengthy development process that has experienced multiple setbacks. Zelnick noted that the magnitude of pre-orders is unprecedented, but the company is uncertain about the eventual translation into sales. It's important to clarify that no units have been sold yet, and pre-orders can be canceled.

Take-Two aims to surpass the success of its predecessor, GTA V, which has sold over 230 million copies since its launch in 2013. Investors are eagerly anticipating any updates about an online multiplayer mode for the game, hoping for a repeat of the revenue generated by GTA V Online, which has been a steady source of income. Live-service components typically enable companies to generate additional income through in-game currency purchases.

Take-Two's guidance for fiscal 2027 remains unchanged at $8 billion to $8.20 billion, even though analysts had expected $8.86 billion. The company projected current-quarter bookings between $1.62 billion and $1.67 billion, which falls short of market estimates, indicating ongoing challenges due to the absence of new titles and diminishing benefits from mobile games like Color Block Jam.

For the first fiscal quarter ending June 30, the company's net bookings were $1.39 billion, slightly above estimates of $1.38 billion.