Take-Two loses billion euros, promises recovery with major games from 2024

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 turnover increased by 53 percent to 5.11 billion, but the company nevertheless suffered a significant loss of more than one 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 states the company that more than 73 million euros was lost to the development of canceled games. Opposite 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 revenue in fiscal year 2024, but about half the loss.

To compensate for the disappointing figures, Take-Two is also teasing a very important financial year 2025. 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 speculate such as for example Eurogamer that the company here refers, 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. There is also a new Mafia game in the works and a new BioShock game is expected. Fiscal year 2025 runs from April 2024 to April 2025.