Take-Two Interactive Software, Inc. Reports Results for Fourth Quarter and Fiscal Year 2025, serving up the usual set of astronomical numbers to boggle our minds. These include $1.58 billion in Q4 Net Bookings, $5.65 billion fiscal year 2025 Net Bookings, and initial projections for fiscal 2026 of Net Bookings between $5.9 and $6.0 billion. There's a mention of the recently announced delay of Grand Theft Auto VI to May 26, 2026, and the results mention Grand Theft Auto V no fewer than four times as one of the largest contributors to its bottom line. But an interview on VentureBeat with Strauss Zelnick explains the GTA6 delay is not because GTA5 continues to rake in the bucks after almost 12 years. Instead Zelnick explains that "Rockstar Games sometimes requires more time" before saying Take-Two historically hits promised release dates. And worthy of a Jedi master, he adds that this is not the "long delay" we're looking for:
In an interview with GamesBeat, Zelnick tole me some context around the announcement of the delay of Grand Theft Auto VI.
“We’re constantly seeking perfection here at Take-Two. Broadly and specifically, Rockstar Games sometimes requires more time. In this case, to deliver this groundbreaking project at the level that its fans demand.”
I asked why it was such a precise date, in terms of the new date for launching the game on May 26, 2026. Zelnick said that, generally speaking, when Take-Two announces a specific date, they stick to those dates, historically speaking.
While to me it looked like a long delay, Zelnick said that he would quibble that it was a long delay, as it was less than six months later. Since we didn’t know the original date Rockstar had in mind, we didn’t know it was a short delay. I asked if Zelnick felt like the industry was stabilizing, but he said Take-Two wasn’t reporting on how the industry was doing, only the company itself, and that it was a great fiscal year.
Our GAAP results include impairment charges of (i) $3.55 billion related to goodwill and (ii) $176.3 million for acquisition-related intangible assets.
Mr. Tact wrote on May 15, 2025, 23:40:RogueSix wrote on May 15, 2025, 22:15:Debt servicing? Law suit settlements? That does seem like a large quarterly loss against the annual loss.
Well, what really boggles the mind is their quarterly operating loss of $3.8bn (annual operating loss is $4.4bn).
RogueSix wrote on May 15, 2025, 22:15:Debt servicing? Law suit settlements? That does seem like a large quarterly loss against the annual loss.
Well, what really boggles the mind is their quarterly operating loss of $3.8bn (annual operating loss is $4.4bn).