08:48 AM EDT, 05/17/2024 (MT Newswires) -- Take-Two Interactive Software ( TTWO ) is expected to report lower full-year net bookings than previously expected by Wedbush Securities, with the video game publisher pushing the release of the latest installment in its popular Grand Theft Auto series to fall 2025.

The company is now estimated to record net bookings, which are products and services sold digitally and physically, of $5.75 billion for fiscal 2025, compared with Wedbush's prior forecast of $6.51 billion. Take-Two late Thursday issued bookings guidance of $5.55 billion to $5.65 billion for the ongoing fiscal year, while the current consensus on Visible Alpha is for $7.04 billion.

"We took down our (fiscal 2025) estimates to reflect the topline guidance cut and a full view of the year for the first time," Wedbush analysts led by Nick McKay said in a Friday client note. The company anticipates revenue to be in a range of $5.57 billion to $5.67 billion for fiscal 2025, compared with the Capital IQ-polled consensus of $5.63 billion.

Take-Two Chief Executive Strauss Zelnick confirmed that the Rockstar Games parent is aiming to release Grand Theft Auto VI in the fall of 2025, which would be in its 2026 fiscal financial year. "We are encouraged by the firmer window for GTA VI, and expect Take-Two shares to react positively once gamers and investors alike learn additional details about the title," according to McKay.

Wedbush maintained its launch quarter sell-in estimate of 25 million units for the video game, which could prove to be "overly conservative." The investment firm also expects Take-Two's pending $460 million acquisition of Gearbox Entertainment to contribute modestly to full-year guidance.

For the current quarter, Take-Two projects net bookings to come in between $1.2 billion and $1.25 billion. The company has already released one immersive core title, one independent title and one mobile title in the quarter, compared with one mid-core title and one independent title in the prior-year period, Wedbush said. Revenue is pegged at $1.3 billion to $1.35 billion.

Wedbush reiterated its outperform rating on Take-Two's stock and maintained its 12-month price target of $190. Shares of the company were down 1.7% in recent premarket activity.

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