The decline pulled the stock down 3.6% year-to-date. Shares of Take-Two sold off more than 6% Tuesday, bringing the stock to $200.31 at the close. Take-Two previously forecast net bookings of between $3.15 billion and $3.25 billion. The company expects net bookings to range between $602 million and $652 million in the current quarter, while guiding between $3.37 billion and $3.42 billion of net bookings for the fiscal year.
Take-Two raised its outlook for the 2021 fiscal year, which is set to close at the end of March. Mods are a great way to enhance your single player GTA V experience, but they do carry some risks.
"We don't need to eat everyone's lunch to be successful, however there has been a systemic shift in favor of interactive entertainment, which remains the most rapidly growing part of the audiovisual entertainment business," he said. After attracting new gamers and reactivating previously existing gamers, Take-Two expects the trends to continue post-pandemic, he said. While some mods for GTA V do allow you to live the life of a random NPC, GTA Online is completely different and much more complicated. Zelnick says the video game industry, much like the subscriber growth seen in video streaming subscriptions, has benefited from consumers seeking more at-home entertainment amid the pandemic. "I don't think any other company can say that. "We do have a lot of other franchises: 11 franchises have each sold at least 5 million with an individual release 67 franchises that have had at least one 2 million unit release," Zelnick said.
"Grand Theft Auto," which revenue has grown $227 million in Take-Two's current fiscal year, isn't the company's only winner.