Grand Theft Auto VI Delayed? Take-Two suffers staggering $2.9 Billion loss, drops release update
The dust is barely settling from the explosive GTA VI trailer that took YouTube by storm. Remember how it shattered records, surpassing the records of some of the highly popular music videos. it set the bar high for what fans could expect from the upcoming release. Now, after months of speculation, the long-awaited release date for Grand Theft Auto VI has finally been unveiled. But, before we get too carried away with the excitement, Take-Two Interactive, the makers behind Rockstar Games, just took a whopping $2.9 billion loss.
GTA 6 leak
Take-Two suffers $2.9 billion loss
According to a new report by Variety, Rockstar Games’ parent company Take-Two Interactive, announced its earnings for the fourth quarter and the entirety of fiscal year 2024 on Tuesday, revealing a loss of $2,9 billion for the period ending March 31, 2024. Earlier in March, there were reports of GTA 6 development hitting roadblocks due to challenges encountered by remote workers.
Unlock exclusive access to the latest news on India’s general elections, only on the HT App. Download Now! Download Now!
Also read: Popular South Korean actress hints dating BTS Jimin with major social media update, fans fume
GTA 6 confirms Fall 2025 release
Acknowledging the popular belief surrounding the release date of Grand Theft Auto 6 being pushed to Fall 2025, Rockstar Games confirmed the news. However, Take-Two refrained from providing more specific information than the release date of GTA VI. In an interview with Variety, CEO Strauss Zelnick said, “I think we’re going to leave it there for now.” The conversation that took place ahead of the video game maker’s quarterly earnings call also cited Zelnick stating, “That [announcement] will come from Rockstar and be consistent with the way they are marketing the title.”
As revealed further, originally, the company thought they’d lose somewhere between $170 million and $153 million for the quarter. But it turned out they lost much more: $2.9 billion. The officials, without allowing any room for debate, stated that the majority of the additional loss was not actually spent on assets. Instead, it was a financial accounting thing known as a “goodwill charge” amounting to $2.1 billion. This charge is incurred when a company acquires another company at a price that is higher than the company’s true value.
Also read: Jennifer Lopez reacts to ‘toxic’ relationship post, while Ben Affleck ‘living separately’ amid divorce rumours
Take-Two layoffs
Earlier, a Bloomberg report from February detailed the tumultuous situation inside the video game-making company after it mandated every remote worker to return to their respective office locations, which didn’t sit well with many. The company cited “quality and safety concerns” as playing a big role in this decision.
And now, CEO Strauss Zelnick addressing the sudden layoffs said, “We feel like we’re in a very good place now.” Explaining further he added, “We’ve had three cost-reduction programs in recent memory: $100 million program, which we exceeded as part of the Zynga integration in 2022, a $50-million program, which we exceeded, and now, most recently, a $165-million program of cost containment and actual cost-reduction.”
Some of their popular games from the quarter were
NBA 2K24Grand Theft Auto OnlineGrand Theft Auto VToon BlastEmpires & PuzzlesRed Dead Redemption 2Red Dead OnlineWWE 2K24Match Factory!Words With FriendsMerge Dragons!
