Take-Two Interactive (TTWO) just got a demand signal that most companies would rush to celebrate.
Instead, management slammed on the brakes
CEO Strauss Zelnick said pre-orders for Grand Theft Auto VI have reached levels neither Take-Two nor the broader videogame industry has seen before, Reuters reported. Investors responded by sending Take-Two shares more than 4% higher. But Take-Two kept its net bookings prediction for fiscal 2027 at $8 billion to $8.2 billion, Reuters reported, below the $8.86 billion projected by experts polled by LSEG.
For stockholders, it is the contradiction that counts. Pre-orders for GTA VI launched on June 25, the company said, and the game will debut on Nov. 19 for $79.99 on PlayStation 5 and Xbox Series X|S. Rockstar estimates the entire Grand Theft Auto brand has sold more than 470 million units, with GTA V alone close to 230 million units since its introduction in 2013.