Video Game Developer Behind Grand Theft Auto Predicts Strong Rebound
- Shares rise up to 12% on bullish forecast for fiscal year 2025
- Management is silent for now on actual GTA VI release date
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Take Two Interactive Software Inc., known for the Grand Theft Auto video-game franchise, soared in extended trading after beating quarterly sales estimates and hinting of a release date for a new version of its wildly popular action-adventure title.
The company is forecasting a tough current year — its fiscal 2024. But Chief Executive Officer Strauss Zelnick projects a big rebound after that, with $8 billion in revenue and cash flow exceeding $1 billion in fiscal 2025, the year starting next April. That fueled speculation Grand Theft Auto VI would be out in that window.