Aroged: Take-Two reported a weak financial quarter and readiness for staff cuts

But GTA V already has 175 million copies sold.

Last year, the gaming industry was affected not only by the “throwback” from the pandemic, but also by the generally disturbing geopolitical situation, which naturally reduces the income of the population and forces it to be more reasonable in terms of spending free funds. Naturally, the first costs to drop are all related to entertainment, and various video game-related companies are both suffering losses and preparing for cuts.

Take-Two Interactive was no exception, reporting on the results of the third quarter of the 2022/2023 financial year on net revenue that did not reach the forecast. In total, during the specified period, the company managed to earn $1.41 billion, while 95% of all game sales came from digital copies.

Additionally, Take-Two announced that Grand Theft Auto V has reached 175 million copies sold, and Red Dead Redemption 2 has reached 50 million copies. Until fiscal year 2025, the company expects to release almost 90 video games of various classes, genres and budgets.

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There was also some very sad news: the company will cut costs by $ 50 million, which will lead to layoffs of employees. Take-Two management reassures that the staff cuts will be minor, but the fact remains.