Shulou(Shulou.com)11/24 Report--

On the morning of November 8, Beijing time, it was reported that game developer Take-Two lowered its annual revenue forecast. The soaring US dollar and the downturn in the game industry affected business, and even Take-Two was not immune.

Prior to this, EA has sent the same signal that the entire industry is facing the challenge of weak demand, the lack of new games, consumer spending due to inflation, the game industry is facing the impact.

Take-Two shares fell 16.5% after the bad news, and it expects annual revenue of $54 to $5.5 billion this year, compared with a previous forecast of $58 to $5.9 billion. "the lower revenue forecast reflects changes in our product line and fluctuations in foreign exchange rates, indicating that we are more cautious about the current macro economy, especially in the mobile sector," Take-Two CEO Strauss Zelnick said.

Take-Two 's acquisition of the advertising business of mobile game developer Zynga,Zynga has also come under pressure this year, even for giant Google.

Take-Two 's adjusted revenue for the three months ended Sept. 30 was about $1.5 billion, roughly in line with analysts' estimates of $1.55 billion. The main support for third-quarter results is the new game NBA 2K23, which went on sale in September and sold well.

What is highly anticipated is the new game Grand Theft Auto 6, which BofA Global Research estimates will have revenue of $3.5 billion at launch and an average of $2 billion a year thereafter.

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