Take-Two Reaffirms Grand Theft Auto VI Release for November 19

Take-Two Interactive reaffirmed that Grand Theft Auto VI will launch on November 19. The company reported fourth-quarter results that came in above the high end of its guidance range.

Shares rose in after-hours trading following the earnings release but fell once regular trading began. Analysts attributed the drop to softer-than-expected guidance on bookings and adjusted earnings for the next fiscal year. Take-Two guided to flat revenue growth for the full fiscal year.

The company cited higher marketing expenses ahead of the Grand Theft Auto VI launch and increased research and development spending.

Sachs analysts noted the company plans to begin its marketing campaign this summer. They also highlighted a pipeline of 29 titles planned through fiscal 2029. Citi analysts said investors are likely pleased that the November 19 release date remains on track.

They described the guidance as containing some level of conservatism. Bank of America analysts called the fiscal-year sales forecast overly conservative, noting it implies roughly 31 million units sold for Grand Theft Auto VI.

Take-Two shares traded lower in the cash session after the initial after-hours gain. The company expects operating expenses to rise during the fiscal year due to marketing and research costs. Pre-orders for Grand Theft Auto VI are expected to begin when the marketing campaign launches in late June.