Take-Two Interactive suffered a loss of almost 1.04 billion euros in the 2023 financial year. That while turnover increased by more than half. The poor result should be compensated from April 2024 thanks to ‘unparalleled success’ of upcoming major games.
Take-Two Interactive’s revenue increased by 53 percent to 5.11 billion, but the company nevertheless suffered the significant loss of more than a billion euros. Most of that loss was incurred in the fourth quarter of fiscal year 2023. Take-Two attributes the loss to, among other things, depreciation related to acquisitions.
Also the company states that more than 73 million euros were lost on the development of canceled games. To IGN says CEO Strauss Zelnick that several titles have indeed been canceled or postponed. The delays are said to have been caused by reduced efficiency due to the work-from-home policy. Due to the delays, Take-Two expects to achieve comparable sales in fiscal year 2024, but about half the loss.
To compensate for the disappointing figures, Take-Two also teases a very important fiscal year 2025. The turnover should rise to almost 7.4 billion euros in that year from what the publisher calls the release of ‘several groundbreaking titles’. Although no concrete games are mentioned, various media such as Eurogamer that the company refers here, among other things, to the release of Grand Theft Auto 6, a game that, according to various sources, will indeed be released sometime in 2024 or 2025 release. There is also a new Mafia game in the works and a new BioShock game is expected. Fiscal Year 2025 runs from April 2024 through April 2025.
