Video game publisher Take-Two Interactive drew $1.39 billion in sales from April 1-June 30, the quarter during which it opened presales for “Grand Theft Auto 6,” even as the company’s losses widened.
During a call with analysts later Friday, Take-Two CEO Strauss Zelnick said “GTA 6” had an “exceptional start to pre-orders,” which were open for five days during the quarter, but did not disclose specific sales numbers.
The $1.39 billion in total net bookings was not broken down by title in the company’s earnings results Friday, but Take-Two noted the number primarily reflected “better-than-expected performance” from the “NBA 2K” and “GTA” franchises. “NBA 2K” net bookings were up 7% and “GTA” rose 3%.
It should be noted that net bookings, a standard earnings metric across the video game industry, are recorded when an order is placed, while Take-Two only calculates revenue based on its actual earned income. Finalized revenue for the quarter came in at $1.53 billion.
Overall, net bookings were down 3% from $1.42 billion in the prior year’s quarter. Losses for the quarter was $34.1 million compared with a loss of $11.9 million year over year.
Pre-orders for “GTA 6” launched June 25, one day after Take Two-Interactive’s Rockstar Games revealed pricing for the game would be $79.99 for the standard edition, which can be purchased as a digital or physical (which includes a code in a box rather than a disc) copy. The “ultimate” version will cost $99.99 and include “an exclusive collection of premium vehicles, weapons, apparel, and action threaded across all aspects” of the game.
Take-Two took a $43.4 million impairment charge during the quarter attributed to the “decision not to proceed with further development of an unannounced title in its pipeline from a third-party developer.”
Wall Street forecast a GAAP loss of earnings per share (EPS) of 21 cents on $1.36 billion in revenue, according to analyst consensus data provided by LSEG. Take-Two reported a GAAP loss per share of 18 cents on $1.39 billion in net bookings.
“Our excellent first quarter results reflect the power of our portfolio and disciplined execution across all of our labels,” Zelnick said in a letter to shareholders. “With these positive trends and excitement around the November 19th launch of ‘Grand Theft Auto VI,’ we are reiterating our Fiscal 2027 Net Bookings outlook of $8.0 to $8.2 billion. Looking further ahead, we expect to sustain this new level of scale and generate strong cash flows, setting us on a path to deliver continued growth and long-term shareholder returns.”
