Take-Two Interactive 2nd Quarter Results for FY2025: GTA 6 Release, Sale of Private Division

Take-Two Interactive has reported strong results for the second quarter of financial year 2025 ending in March 2025, with net bookings up 2% to $1.47 billion, aligning with the top of its guidance range.

What Are the Key Financial Highlights?

For the three months ending September 30, 2024, Take-Two Interactive reported:

• Net Revenue: $1.35 billion, up 4% year-on-year.
• Net Loss: $365.5 million, down 39% year-on-year.
• Total Net Bookings: $1.47 billion, up 2%.

Which Games Overperformed?

Both Grand Theft Auto Online and Grand Theft Auto V exceeded expectations. Grand Theft Auto V has sold 205 million units worldwide to date. Additionally, the GTA+ subscription service saw a 35% year-on-year growth in membership after adding Bully to its game library.

Here are the games/franchises’ updated sales numbers:

• Grand Theft Auto V: Over 205 million units
• Red Dead Redemption 2: Over 67 million units
• Borderlands 2: Over 29 million units
• Borderlands 3: Over 21 million units
• NBA 2K25 Franchise: Over 150 million units globally (across all editions)
• The Red Dead Redemption Franchise: Over 92 million units worldwide
• The Grand Theft Auto Franchise: Over 435 million units (including Grand Theft Auto V)
• BioShock Franchise: Over 43 million units
• Sid Meier’s Civilization Franchise: Over 73 million units
• Borderlands Franchise: Nearly 89 million units (including Borderlands 2 and Borderlands 3)

What Is the Future Outlook?

Take-Two Interactive has reaffirmed its 2025 net bookings guidance range of $5.55 to $5.65 billion. The company is confident in achieving sequential increases and record levels of net bookings in fiscal years 2026 and 2027.

Net bookings from recurrent consumer spending (RCS) were up 6%, accounting for 81% of all net bookings. Key contributors to RCS include NBA 2K25, NBA 2K24, Grand Theft Auto Online, Grand Theft Auto V, Toon Blast, Match Factory!, Empires & Puzzles, Words With Friends, Red Dead Redemption 2, Red Dead Online, and Toy Blast.

What Are the Recent and Upcoming Releases?

Between July and September 2024, Take-Two released several titles, including Game of Thrones: Legends, NBA 2K25, and Red Dead Redemption on PC. Upcoming games include:

• Sid Meier’s Civilization 7: Launching February 6, 2025.
• WWE 2K25: Launching Q4 Fiscal 2025.
• Grand Theft Auto VI: Launching Fall of Calendar 2025.
• Borderlands 4: Planned for release in Calendar 2025.
• Mafia: The Old Country: TBA.
• CSR Racing 3: TBA.
• Judas: TBA.
• Project Ethos: TBA.

GTA 6 Coming in Fall 2025

Despite another earnings cycle passing without a specific release date for “Grand Theft Auto 6,” Take-Two Interactive CEO Strauss Zelnick has assured that its launch in Fall 2025 will not overlap with the release of “Borderlands 4.”

The latter is scheduled to be released between April 1, 2025, and March 31, 2026, during Take-Two’s 2026 fiscal year. Zelnick emphasized, “I think it’s safe to say that we wouldn’t, and no one would, stack up huge releases unnecessarily.”

Sale of Private Division

Take-Two Interactive has also confirmed the sale of its indie-focused publishing label, “Private Division”, for an undisclosed sum.

This sale includes most of Private Division’s existing and unreleased titles, except for the recently release “No Rest for the Wicked,” which Take-Two will continue to support.

The buyer, who will be named soon, will acquire titles such as “Tales of the Shire,” “The Outer Worlds,” and “OlliOlli World.” Upcoming games like The Lord of the Rings farm simulator “Tales of the Shire” and Pokémon developer Game Freak’s untitled project “Project Bloom” will also transition to the new owner, according to Bloomberg.

This strategic move allows Take-Two to focus on larger projects and its core franchises.

How Will Grand Theft Auto VI Perform on Different Platforms?

During the latest earnings call, Zelnick also addressed concerns about how Grand Theft Auto VI will perform on the less powerful Xbox Series S compared to the Series X and PS5. He assured that Take-Two supports platforms where consumers are and that the company is adept at making the tech work across different levels of hardware. “Our labels are really good at that. I’m not really worried,” Zelnick said.

He further explained that if one platform’s value diminishes, there are always “other platforms” to focus on, noting significant growth in the PC market. Zelnick emphasized that supporting PC is straightforward for Take-Two and hinted at the possibility of a PC release for GTA VI, although it is not yet confirmed.

Mobile Gaming Success

Zynga, the mobile gaming powerhouse under Take-Two Interactive, has reported another impressive quarter, with nearly 16% growth over the previous quarter. Reports mentions:

• Match Factory is scaling rapidly, projected to become Zynga’s second-largest title
• Toon Blast achieved over 50% growth in net bookings year-over-year
• Screw Jam maintains its position in the top fifty games in the U.S. Apple App Store
• Top Eleven 2025 edition achieved the largest in-app purchase spending per active user in its 14-year history
• Successful launch of Game of Thrones: Legends
• Hyper-casual gaming division showing positive results with blended monetization strategies
• CSR 3 – Street Car Racing in development

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