Tepid Take-Two (TTWO) revenue guidance may signal GTA 6 is still a ways out
Take-Two is forecasting FY 2024 revenue to be much less than analysts expected.
Take-Two Interactive (TTWO) has shared its earnings report for Q4 2023. While the report primarily chronicles the company’s performance over the past few months, it also looks to the future. Take-Two has provided guidance for the upcoming fiscal year. However, it’s far lowing than analysts were expecting, likely signaling that the publisher has no plans to release GTA 6 anytime this year.
In Take-Two Interactive’s Q4 2023 earnings report, the company provides guidance for the upcoming fiscal year 2024. Take-Two has stated that its GAAP net revenue is expected to range from $5.37 to $5.47 billion. This is considerably lower than the analyst expectation of $6.1 billion for the year. This guidance gives us reason to believe that GTA 6 won’t be coming out within the next year. It’s undoubtedly one of the most anticipated upcoming video games, and if Take-Two was expecting it to release in FY 2024, guidance would likely be much higher.
It's worth noting that Take-Two Interactive did share some projections beyond 2024. For FY 2025, the company is projecting over $8 billion in net revenue, a stark contrast from FY 2024. Could FY 2025 (calendar year 2024) be the year that GTA 6 comes out?
Following the release of the earnings report, Take-Two Interactive's (TTWO) stock skyrocketed. It reached as high as $139.15 per share in after-hours trading after ending the day at $125.02. This is likely due to the fact that the company beat revenue expectations for the quarter, despite the disappointing guidance.
With Take-Two Interactive projecting a pretty lukewarm fiscal year for revenue, you can probably put to bed those hopes that GTA 6 would get a surprise reveal and release by the end of the year. That said, you can likely expect new content for GTA Online, a new NBA 2K game, and other publishing efforts from the company. For more financial news out of the video game industry, Shacknews has the information you need.
Donovan Erskine posted a new article, Tepid Take-Two (TTWO) revenue guidance may signal GTA 6 is still a ways out