Investors have shown great enthusiasm as Take-Two Interactive’s shares surged by as much as 9.4% in pre-market trading on Wednesday. This remarkable boost follows the first confirmation that the next installment of the Grand Theft Auto (GTA) franchise is in the works. Take-Two Interactive is scheduled to report its fiscal second-quarter 2024 earnings later today.
In an exciting announcement, Sam Houser, the President of Rockstar Games, revealed on Wednesday morning, through a post on X (formerly Twitter), that “the first trailer for the next Grand Theft Auto” will be unveiled in early December. This reveal is timed to coincide with the 25th anniversary of the renowned studio. While the official title of the next game has yet to be disclosed, fans have affectionately referred to it as GTA VI or GTA 6.
As per a report from Bloomberg on Tuesday night, the company may make an official announcement as early as this week. Such an announcement might provide further details about the game’s release date.
Take-Two Interactive has hinted at a possible launch in 2024. The company previously stated its intention to embark on a new phase of growth in fiscal 2025, commencing in April 2024. This phase includes plans to “deliver several groundbreaking titles that we anticipate will set new standards of quality and success and enable us to deliver over $8 billion in Net Bookings and over $1 billion in Adjusted Unrestricted Operating Cash Flow.”
It’s noteworthy that GTA V was announced in 2011 and released in 2013. Even a decade later, it remains popular among gamers. “Grand Theft Auto V,” the latest release in the franchise, is the second best-selling game of all time in terms of units sold, following only Microsoft-subsidiary Mojang’s Minecraft. Developed by Take-Two subsidiary Rockstar, the success of Rockstar’s franchises, including Grand Theft Auto and Red Dead Redemption, has significantly contributed to Take-Two’s share price growth and its market capitalization of $23.16 billion.
Earlier this year, Take-Two Interactive signaled that 2024 and beyond would be a “significant” period for the company. Take-Two CEO Strauss Zelnick stated, “We continue to believe we are positioning our business for a significant inflection point in fiscal 2025.”
The anticipation for the next Grand Theft Auto game has been high, as the previous installment, GTA V, garnered praise for its graphics and gameplay. To this day, GTA V continues to generate substantial revenue for Take-Two through its online platform.
In August, when Take-Two reported its fiscal 2024 first-quarter earnings, total net bookings witnessed a 20% year-over-year growth, amounting to $1.20 billion. Grand Theft Auto Online and Grand Theft Auto V were noted as among the largest contributors to this impressive financial performance.
Take-Two Interactive has not provided any additional comments at this time. As of today, Take-Two shares have surged nearly 31% year-to-date, reflecting the high expectations surrounding the release of GTA 6.
