Two banks are betting on new games to boost bookings in the next two fiscal years

(Reuters) – Take-Two Interactive Software said on Thursday it expects net booking revenue to rise in fiscal years 2026 and 2027 as the video game publisher prepares for the release of its highly anticipated “Grand Theft Auto VI” game next year.

Shares of the New York-based company rose more than 5% in the evening session.

Grand Theft Auto is one of Take-Two’s most popular games. The series has earned billions of dollars since its inception in the late 1990s.

In May, the company narrowed the “GTA VI” release date to fall 2025, paving the way for the next installment of one of the world’s most popular video game series.

The article stated that “Grand Theft Auto V,” one of the highest-grossing video games of all time, has sold over 200 million copies worldwide.

Wedbush Securities analyst Michael Pachter predicts that bookings will increase over the next two fiscal years due to the game “GTA VI.”

Take-Two said in May that it plans to produce about 40 titles by fiscal year 2027.

However, the company forecasts that second-quarter sales revenue will be lower than analysts expected as the company has to cope with low spending on live games amid inflationary pressures.

According to LSEG data, the company expects second-quarter bookings to be between $1.42 billion and $1.47 billion, while analysts on average are estimating $1.47 billion.

Take-Two said it saw a decline in recurring consumer spending on “GTA Online” in the first quarter, indicating that player engagement rates for the live-service game may be slowing after years of steady growth.

First-quarter bookings came in at $1.22 billion, below estimates of $1.25 billion.

The company also said it does not expect any impact from the ongoing video game developers’ strike on its titles in development, echoing statements from its partner Electronic Arts last week.

Take-Two unexpectedly reported adjusted profit of 5 cents per share, compared with estimates of a loss of 2 cents.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)