Take-Two CEO says he will ‘delay any day’ while lowering earnings forecast

Grand Theft Auto and NBA 2K publisher Take-Two are lowering their revenue forecasts for fiscal 2023, as the company faces delays and falling mobile games.

Be part of Take-Two’s Results for the second quarter of fiscal year 2023, the company revealed it is reducing projected revenue to $320 million for the current fiscal year. Previously, Take-Two expected between $5.73 and $5.83 billion, but these numbers have been lowered to $5.41 and $5.51 billion. The company is blaming a drop in expectations in its mobile business and changing its upcoming release schedule for falling forecasts.

Take-Two CEO Strauss Zelnick said “there have been some modest pipeline changes” to some of the games in development, but that “the good news is that those games are still in development. develop.” The CEO added that “I would choose a delay any day after making some setbacks. That’s really key in this business,” saying past delays are always worth it. is awaited.

Those changes to Take-Two’s release schedule include a mobile title from 2K, Marvel’s Midnight Suns Delayed on both PS5/Xbox Series and Nintendo Switch/last generation consoles, and Kerbal Space Program 2 has moved into early access. In total, Zelnick says 87 games are being released from various Take-Two Interactive studios.

Many of those games come from Recently acquired Zynga. In fact, 38 of the 87 games being developed at Take-Two are set to be Mobile titles, another sign the publishing giant is push harder into its mobile future. The rest of the software line is as follows:

  • 24 “Immersive Core” games
  • 10 indie games
  • 28 mobile games
  • 7 games “Mid-Core”
  • 8 new iterations of previously released titles

Take-Two defines “Immersive Core” games as titles with deep gameplay and hours of content, like GTA, Red Dead Redemption, and NBA 2K. “Mid-Core” games are defined as arcade titles like WWE Battlegrounds or games that don’t have the same volume of content as Immersive Core games, like New Tales from the Borderlands. And, it’s worth noting that some of the 87 games were released this financial year, like The Quarry, New Tales from the Borderlands, and NBA 2K23.

The company reported some success from last quarter, reporting $1.39 billion in revenue showing Grand Theft Auto and Red Dead Redemption surpass 170 million and 70 million units sold, respectively.

Logan Plant is a freelance writer for IGN on video games and entertainment news. He has over six years of experience in the games industry with staff members at IGN, Nintendo Wire, Switch Player Magazine and Lifewire. Find him on Twitter @LoganJPlant.


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