Take-Two posted its financials for the first quarter of 2024-2025, and the publisher is "steady" as its bigger games loom on the horizon.
Both net bookings and net revenue saw slight increases for the quarter ending June 30, 2024. Bookings came to $1.22 billion (up 1 percent from the same period last fiscal year) and revenue grew by 4 percent to $1.34 billion.
Primary drivers for both metrics include NBA 2K24, Grand Theft Auto V and Online, and Words With Friends. However, consumer spending for both 2K24 and GTA Online were down compared to previous years.
More substantially, Take-Two reported a net loss of $262 million, an increase on the $206 million loss reported this time last year. More losses are anticipated, but CEO Strauss Zelnick expects "sequential" net booking increases for the 2026 and 2027 fiscal years.
Looking forward, Zelnick said the company "remains confident in our path forward. [...] Our core franchises remain vibrant, and our teams are hard at work on the most ambitious development pipeline in our history."
Discussing its upcoming release slate, Take-Two said Grand Theft Auto VI is expected to launch in fall 2025. It was previously reported the game might slip to 2026, a concern that spurred Rockstar's return-to-office mandate.
Along with GTA VI, Take-Two is aiming for 24 releases over the next two fiscal years. Firaxis' Civilization VII is expected to release sometime before March 2025, while other titles include Judas, NBA 2K25, and Tales of the Shire.
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