Take-Two dips as analysts flag possible disappointment over GTA VI release date

December 5, 2023 6:46 AM EST
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Join SI Premium – FREE -- Shares in Take-Two Interactive Software (NASDAQ: TTWO) fell in U.S. premarket trading on Tuesday after the video game studio's Rockstar Games unit released the first trailer for its highly-anticipated "Grand Theft Auto VI" title.

The teaser video, which was viewed more than 30 million times hours after it was posted on social media by Rockstar on Monday, said the game was "coming 2025."

An accompanying statement from the firm said GTA VI, the latest installment in the mega-popular franchise known for its massive open-world gameplay, will be available on Sony 's (NYSE: SONY) PlayStation 5 and Microsoft's (NASDAQ: MSFT) Xbox Series X and Series S consoles.

Analysts at Stifel suggested that the 2025 launch window could disappoint consensus expectations for a release during the holiday season next year. However, they noted that they still project the game will be available for sale late in Take-Two's 2025 fiscal period, which is due to end in March of that year.

Several analysts quoted by Reuters say they expect sales of GTA VI, a sequel to Rockstar's 2013 smash hit GTA V, to be in the billions of dollars each year.

Last month, Take-Two unveiled forecasts for current-quarter net bookings of between $1.30 billion to $1.35 billion, missing Bloomberg consensus projections of $1.39 billion, in a sign of a potential slowdown in consumer spending ahead of the key holiday shopping season.

Chief Executive Strauss Zelnick warned at the time of "continued macroeconomic uncertainty," but said the company was still "well positioned" prior to the holidays.

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