Take-Two bookings drop 4% to $1.44B in September quarter as Rockstar teases next GTA
08.11.2023 - 23:37
/ venturebeat.com
/ Strauss Zelnick
/ Sam Houser
/ In September
Take-Two Interactive reported its bookings fell 4% to $1.44 billion from a year ago for the second fiscal quarter ended September 30.
But the news of the day was that Sam Houser, head of Take-Two’s Rockstar Games label, announced that a trailer for the next Grand Theft Auto game will debut in early December, presumably at The Game Awards.
It’s fair to say that Grand Theft Auto VI — if that is indeed its title — is one of the most anticipated games of all time. Grand Theft Auto V debuted in 2013 and has sold 190 million copies to date. At retail, that’s about $11.1 billion in sales. In the quarter, GTA V sold another five million copies. In after-hours trading, Take-Two’s stock is up 2.46% to $147 a share.
“Our strong second quarter results, including Net Bookings of $1.4 billion, underscore the strength of our portfolio of iconic, industry-leading intellectual properties. During the period, our teams released new offerings, delivered engaging post-launch content, and advanced further the development of our eagerly-anticipated pipeline,” said Strauss Zelnick, Chairman and CEO of Take-Two, in a statement. “While we expect continued macroeconomic uncertainty, we believe that we are well positioned for the holiday season and are reiterating our fiscal 2024 Net Bookings guidance of $5.45 to $5.55 billion.”
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Zelnick added, “Looking ahead, I am optimistic about our Company’s multi-year growth trajectory and our ability to deliver long-term value for our shareholders. Our development pipeline is robust and diverse, and we are getting closer to delivering the groundbreaking titles that our audiences throughout the world have been anticipating. With an unwavering commitment to being the most creative, the most innovative, and the most efficient entertainment company, I have great confidence that our offerings will surpass our players’ expectations and set new standards of creative excellence in our industry.”
In an analyst call, Zelnick congratulated Rockstar on its GTA announcement and its focus on delivering the highest quality.
In the quarter, the company took “impairment charges” against goodwill and other investments that totaled $385.1 million for one of its labels. In an interview with GamesBeat, Zelnick declined to provide more details on that, and noted the company had not signaled this was coming. Hannah Sage, chief accounting officer of Take-Two, said in an interview with GamesBeat that it was the result of updating the company’s long-term expectation for one of the reporting divisions.
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