Take-Two guidance points to GTA V in early 2013

The financial guidance offered by Take-Two means that Grand Theft Auto V will be released by April 13th at the latest.

That’s the predictions of Cowen & Company analyst Doug Creutz.

Full year FY13 guidance for net revenues is $1.75bn-$1.85bn,” Creutz observed. "We believe management could not provide this level of guidance with any degree of confidence if it did not anticipate shipping Grand Theft Auto V during FY13.

"Take-Two’s announced line up of titles for FY13 was largely unchanged, including continuing to resist announcing a release date for Grand Theft Auto V. We are modelling a ship date for Grand Theft Auto V in the last two weeks of March 2013."

Wedbush Morgan’s Michael Pachter agrees, adding: "Guidance strongly implies the release of Grand Theft Auto V in FY13. Although management did not provide a release date or window for GTA V, its FY13 revenue guidance is unattainable without a huge seller from Rockstar.

"Management disclosed that the FY13 revenue mix by label is estimated to be 60 per cent Rockstar Games and 40 per cent 2K Games. Rockstar is expected to contribute $1.1bn, with $300m from Max Payne (including DLC) and $150m from catalogue.

The remaining $650m is simply not possible without the release of GTA V well before FY end.”

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