Gaming titan Take-Two Interactive has finally revealed its earnings report for the October – December 2023 quarter. From what we can gather, the American developer appears to be steadily steering through the current economic headwinds and setting the stage for Grand Theft Auto 6, which could potentially become the next biggest blockbuster in the modern gaming era.
The financials from the recently concluded quarter tell a tale of a company holding strong despite the challenging times the gaming industry has found itself in. Smashing expectations, the company raked in $1.37 billion in revenue, edging past the forecasted $1.3 billion. On top of that, it also closed the quarter at $0.84 per share, outperforming predictions of $0.72 earnings per share.
Take-Two’s leadership has also laid out a strategy that seems to defy – thankfully – the industry’s recent trend towards cutbacks and layoffs. Instead, it’s turning the spotlight on strategic cost reductions and doubling down on what could be its most ambitious project yet.
CEO Strauss Zelnick made it clear that workforce cuts are the last thing on his mind. “The hardest thing to do is to lay off colleagues, and we have no current plans,” he asserted, trying to hopefully calm the nerves of a company still twitching from recent jolts of job cuts across the board.
From his perspective, the biggest expense isn’t the talent behind the code, but rather the marketing. Between the glossy ads and flashy trailers, Take-Two might just find a way to tighten the belt without losing its developers.
However, it’s not just the financial maneuverings that are keeping Take-Two in the headlines. The recent leak of the GTA 6 trailer, a spectacle that broke the internet and shattered viewing records, has been met with a mix of frustration and fervent excitement.
While Zelnick admits the leak was disappointing, he couldn’t help but marvel at the internet-breaking response it garnered. At the end of the day, what doesn’t kill you makes you stronger, or at least more popular than even Mr. Beast on YouTube (until he releases another viral video).
Unfortunately, fans who were hoping the latest report would include a more precise release date for the upcoming Rockstar Games title were left hanging. Strauss kept his cards close to his chest, simply stating, “We’re seeking perfection. And when we feel we’ve optimized creatively, that’s the time to release.”
As it stands, GTA 6 is currently scheduled for release sometime in 2025, but Take-Two needs to be careful not to delay the upcoming game as anticipation can quickly sour into impatience. No delays to a AAA title in this day and age? Right…
Speaking of delays, No Rest for the Wicked’s early access launch has been pushed back. Developed by Moon Studios, the masterminds behind the acclaimed platformer Ori and Blind Forest, No Rest for the Wicked was originally set to debut in early access in Q1 2024.
However, President Karl Slatoff announced that it would be postponed to launch in Q1 2025 for PC, ahead of a full release on PS5, Xbox Series X/S, and PC later on.
