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Grand Theft Auto VI Pre-Orders Show Strong Demand, B. Riley Reports
Summary
A B. Riley survey of major digital and physical retailers indicates robust early pre-order sales for Take-Two Interactive's Grand Theft Auto VI, supporting the firm's projection of $2.5 billion in net bookings for the title in fiscal 2027.
Early pre-order data for Take-Two Interactive's (TTWO) highly anticipated Grand Theft Auto VI shows robust consumer demand, according to a recent analysis by investment firm B. Riley. The findings support the firm's bullish outlook and its maintained Buy rating on the video game publisher's stock.
Survey Highlights Strong Pre-Order Demand
B. Riley's analysis tracked pre-order activity daily from June 25 to July 8 across major digital and physical storefronts, including the PlayStation Store, Xbox Live, Amazon, Best Buy, GameStop, and Walmart. According to the firm's report, GTA VI ranked as the top-selling item across all tracked platforms during June and remained a top-ranked product in early July.
The survey noted a significant preference for the PlayStation 5 version of the game, which B. Riley attributes to the console's install base outselling the Xbox Series X/S by a more than 3-to-1 margin. The premium $99.99 Ultimate Edition was the most popular choice on the digital PlayStation and Xbox stores, while physical retailers primarily offered the $79.99 base edition.
Analyst Projections and Market Impact
Based on the strong initial data, B. Riley stated that its fiscal 2027 projections for the title remain unchanged. The firm anticipates the game will generate substantial revenue for Take-Two Interactive.
Key B. Riley projections for GTA VI include:
Ad- $2.5 billion in full game net bookings
- 37 million units sold over a four-month period
- An average selling price (ASP) of $68
For context, the previous installment, Grand Theft Auto V, sold over 33 million copies in the eight months following its September 2013 release, according to the note.
Looking Ahead to Earnings
Investors will be watching for official company commentary when Take-Two Interactive reports its first-quarter fiscal 2027 earnings on August 7. B. Riley expects management may provide an update on pre-order performance during the call.
The firm's own estimates for the quarter are a non-GAAP earnings per share of $0.34 on net bookings of $1.35 billion. This forecast aligns closely with Take-Two's official guidance, which projects EPS between $0.25 and $0.35 on net bookings of $1.32 billion to $1.37 billion.