Take-Two Reports Financial Losses Following GTA VI Pre-Order Launch

Take-Two continues to project massive revenue for the next fiscal year.

Take-Two released its financial report for the quarter that ended on June 30. Non-GAAP net revenue reached $1.39 billion, which is a 2.7% decrease compared to last year’s $1.42 billion.

The company noted that GAAP net loss stood at approximately $34 million, or 18 cents per share, which aligns with the expected range. GAAP net revenue exceeded expectations at $1.53 billion against a projected $1.45 billion to $1.5 billion.

Pre-orders for Grand Theft Auto VI opened on June 25, just a few days before the end of the fiscal quarter. As a result, these initial pre-orders have not yet allowed Take-Two to break even. However, the company highlighted growing interest in the game and an “exceptional start to pre-orders.”

Take-Two announced a $43.4 million write-off after canceling the further development of an unannounced project handled by third-party developers. No details were disclosed.

The company also shared sales figures for the Red Dead Redemption franchise. Combined sales of Red Dead Redemption have approached 116 million copies sold, with 87 million of those coming from the second installment. Total sales of Grand Theft Auto are nearing 475 million copies, and GTA V accounts for 230 million copies.

Take-Two maintains its forecast that the next fiscal year, which includes the November release of GTA VI, will bring in revenue between $8 billion and $8.2 billion.