“Fortnite” maker Epic Games said Friday that Apple has blocked its latest attempt to bring back the popular video game in the US version of its App Store.The Fortnite app is also unavailable Apple devices in the European Union, despite previously being downloadable there through the Epic Games store. Epic pinned the download failures in Europe on Apple as well.“Apple has blocked our Fortnite submission so we cannot release to the US App Store or to the Epic Games Store for iOS in the European Union,” Epic G ...

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Epic Games claims that Apple is blocking its Fortnite app from the U.S. and E.U. App Stores. After winning a decisive victory for app developers in a legal battle with Apple, forcing the tech giant to allow external payments in its U.S. App Store without charging commission, Epic Games attempted to resubmit Fortnite to the U.S. App Store on May 9, 2025. However, Apple failed to accept its submission for a week, leading Epic Games to pull its request and try again. According to Epic Games CEO Tim Sweeney, t ...

Fortnite is now unavailable on iOS globally, Epic Games said Friday, after Apple blocked a bid to reinstate the popular game on the App Store in the U.S."Apple has blocked our Fortnite submission so we cannot release to the US App Store or to the Epic Games Store for iOS in the European Union," the official account or Fortnite wrote in a post on social media platform X. "Now, sadly, Fortnite on iOS will be offline worldwide until Apple unblocks it."CNBC has reached out to Apple for comment.Epic Games submit ...

Core Viewpoint - The delay of "Grand Theft Auto 6" is being framed by Take-Two's CEO as a positive investment for a groundbreaking project, despite Wall Street's skepticism [1][2]. Company Performance - Take-Two's shares fell by more than 8% following the announcement of the game's delay until 2026 [2]. - The company's stock experienced another dip ahead of the earnings call, with forecasts falling short of expectations primarily due to the delay of "GTA VI" [2]. Game Development Insights - The CEO emphasized that the ambition and complexity of "Grand Theft Auto 6" surpass any previous titles from Rockstar, aiming to deliver an extraordinary entertainment experience [2][3]. - The "Grand Theft Auto" series has been described as a standard bearer for both Take-Two and the gaming industry since its inception [3]. Market Research and Future Outlook - Take-Two conducts extensive market research, which has yielded impressive results, although the CEO refrained from claiming success until the game's release [3]. - Despite the delay, executives remain optimistic about the company's overall success for the year, citing upcoming releases such as "Borderlands 4" and "Mafia: The Old Country" [3].

Key Metrics - Take-Two Interactive reported Q4 2024 revenue of $1.40 billion, which is a 13% increase compared to Q4 2025 revenue of $1.58 billion, beating expectations [1] - Earnings per share for Q4 2024 were ($17.02), which missed expectations as it is projected to be ($21.08) for Q4 2025 [1] - Net bookings increased by 17%, from $1.35 billion in Q4 2024 to $1.58 billion in Q4 2025 [1] - EBITDA improved from a loss of $19.6 million in Q4 2024 to a profit of $161 million in Q4 2025 [1] Fiscal Performance - Take-Two finished fiscal 2025 with strong double-digit revenue and net bookings growth, with approximately 75% of net bookings coming from recurrent consumer spending [2] - Major contributors to net bookings included Grand Theft Auto V and Grand Theft Auto Online [2] Earnings Impact - The company faced significant earnings losses due to impairment charges from previous acquisitions, writing off $3.55 billion related to goodwill and $176 million in acquisition-related intangible assets [3] - This led to earnings per share being deeply negative [3] Future Outlook - The delay of Grand Theft Auto VI to May 2026 has pushed expectations for fiscal 2026 revenue to between $5.95 billion and $6.05 billion, with net bookings projected between $5.9 billion and $6.0 billion [4] - For comparison, net bookings in fiscal 2025 were $5.65 billion [4] - The company anticipates a net loss between $439 million and $499 million for fiscal 2026 [4] Market Reaction - Following the fourth-quarter report, Take-Two's shares fell approximately 2.5% in after-hours trading, reflecting a weak outlook for fiscal 2026 [5] - The earnings miss was attributed to charges that do not necessarily reflect the company's operating performance [5] Upcoming Releases - Fiscal 2027 is expected to be Take-Two's biggest year, driven by the new Grand Theft Auto franchise installment [6] - Significant releases planned for fiscal 2026 include Borderlands 4 and multiple new sports games, although none are expected to match the sales of GTA VI [6] - The company is expected to maintain a steady performance in fiscal 2026 as it prepares for the release of the first new GTA game in over a decade [6]

Financial Data and Key Metrics Changes - The company reported fourth quarter net bookings of $1,580,000,000, which was at the top of the guidance range [8][27] - For fiscal year 2025, net bookings reached $5,650,000,000, also at the top of the guidance range [29] - GAAP net revenue increased by 13% to $1,580,000,000 in the fourth quarter and rose 5% to $5,630,000,000 for the fiscal year [29][30] - Operating expenses increased by 44% to $4,600,000,000 in the fourth quarter due to an impairment expense of $3,600,000,000 related to goodwill and acquired intangible assets [29][30] Business Line Data and Key Metrics Changes - NBA 2K25 sold nearly 10,000,000 units, a 7% increase compared to NBA 2K24, with engagement metrics showing significant growth [11][12] - WWE 2K25 received critical acclaim with a Metacritic score of 84 for Xbox Series X, and recurrent consumer spending grew by 20% during the quarter [13][14] - Zynga's performance was strong, with Match Factory exceeding expectations and Color Block Jam becoming a top 10 downloaded game in the US Apple App Store [18][19] Market Data and Key Metrics Changes - The mobile gaming segment remains challenging, but Zynga is noted for regularly creating new hits, with Match Factory and Color Block Jam being profitable [49][51] - The company expects recurrent consumer spending to be flat compared to fiscal 2025, representing 76% of net bookings for fiscal 2026 [31] Company Strategy and Development Direction - The company plans to release approximately 38 titles through fiscal 2028, with 13 titles expected in fiscal 2026 [22][25] - The release of Grand Theft Auto VI is anticipated to significantly enhance the company's financial profile and establish a new baseline for net bookings [21][56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming pipeline and the potential for record levels of net bookings, particularly with the release of Grand Theft Auto VI [21][35] - The company is focused on delivering value to consumers and maintaining a player-first approach [21][38] Other Important Information - The company has implemented a cost reduction program and is working on improving operational efficiency [27][29] - The direct-to-consumer business has become a significant part of the company's strategy, particularly following the acquisition of Zynga [74] Q&A Session Summary Question: Pricing strategy for Mafia - Management explained that variable pricing is a long-standing strategy aimed at delivering more value to consumers [38][39] Question: Goodwill impairment related to Zynga - Management confirmed that the impairment was a partial impairment of one of the reporting units, resulting from updated long-term expectations [40] Question: Operating margins and structural changes - Management stated there is no reason to believe operating margins cannot return to previous levels, emphasizing ongoing cost reduction efforts [44] Question: Mobile segment performance - Management acknowledged the challenges in mobile gaming but highlighted Zynga's success in creating new hits [49][51] Question: Anticipated demand for Grand Theft Auto VI - Management noted the unprecedented anticipation for Grand Theft Auto VI, supported by record trailer views and ongoing engagement with existing titles [58][90]

Financial Data and Key Metrics Changes - The company reported fourth quarter net bookings of $1,580,000,000, which was at the top of the guidance range [6][26] - GAAP net revenue increased by 13% to $1,580,000,000, while GAAP net revenue for the fiscal year rose by 5% to $5,630,000,000 [28][29] - Operating expenses increased by 44% to $4,600,000,000 due to an impairment expense of $3,600,000,000 related to goodwill and acquired intangible assets [28][29] - Recurrent consumer spending grew by 14% year over year, accounting for 77% of net bookings [27] Business Line Data and Key Metrics Changes - NBA 2K25 posted near record performance with nearly 10,000,000 units sold, a 7% increase compared to NBA 2K24 [10] - WWE 2K25 achieved a Metacritic score of 84 on Xbox Series X, with recurrent consumer spending up 20% during the quarter [12] - Zynga's Match Factory and Color Block Jam both showed strong performance, with Match Factory exceeding expectations and Color Block Jam becoming profitable within four months [16][17] Market Data and Key Metrics Changes - The mobile gaming segment remains challenging, but Zynga is noted for regularly creating new hits, with Match Factory and Color Block Jam being profitable [46][47] - The company expects recurrent consumer spending to be flat compared to fiscal 2025, representing 76% of net bookings for fiscal 2026 [30] Company Strategy and Development Direction - The company plans to release 13 titles in fiscal 2026, including major franchises like Mafia and Borderlands [21][23] - The release of Grand Theft Auto VI is anticipated to significantly enhance the company's financial profile, with expectations for record levels of net bookings [20][33] - The company is focusing on delivering value to consumers through variable pricing strategies [36][91] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming pipeline and the potential for long-term growth, particularly with the release of Grand Theft Auto VI [33][34] - The company is addressing challenges in the gaming industry and is confident in its ability to deliver results [108] Other Important Information - The company has a robust release schedule with approximately 38 titles planned through fiscal 2028 [21] - The anticipated release of Grand Theft Auto VI is expected to set a new baseline for the business [20] Q&A Session Summary Question: Discussion on Mafia's pricing strategy - Management explained that variable pricing is part of their strategy to deliver more value to consumers [36][37] Question: Goodwill impairment related to Zynga - Management confirmed that the impairment was a partial impairment of one of their units, resulting from updated long-term expectations [38] Question: Future operating margins - Management indicated that there is no reason to believe they cannot reach previous operating margin levels, despite increased development costs [42] Question: Mobile segment performance - Management acknowledged the challenges in mobile gaming but highlighted Zynga's success in creating new hits [46][48] Question: Anticipation for Grand Theft Auto VI - Management noted the record excitement for GTA VI, driven by ongoing engagement with GTA V and the success of the recent trailer [86][90] Question: Impact of console price increases - Management stated that their guidance would not be meaningfully affected by potential price increases in the gaming ecosystem [96] Question: Internal royalty line increase - Management explained that the increase in internal royalties is driven by product mix changes [103]

Financial Performance & Results - Q4 FY2025 GAAP Net Revenue was $1583 million, exceeding the guidance range of $1519 million to $1619 million[6] - Q4 FY2025 Net Bookings reached $1582 million, hitting the top of the guidance range of $1480 million to $1580 million[8] - FY2025 GAAP Net Revenue was $5634 million, within the guidance of $5570 million to $5670 million[11] - FY2025 Net Bookings totaled $5648 million, also at the top of the guidance range of $5550 million to $5650 million[13] - The company projects FY2026 Net Bookings to range from $5900 million to $6000 million, representing approximately 5% growth over FY2025 at the midpoint[27] Recurrent Consumer Spending (RCS) - Q4 FY2025 Recurrent Consumer Spending (RCS) grew by 14% year-over-year, significantly exceeding guidance[8] - FY2025 Recurrent Consumer Spending (RCS) increased by 7% year-over-year, exceeding the company's outlook[13] - The company expects FY2026 Recurrent Consumer Spending (RCS) to be flat compared to FY2025[27] - The company projects Q1 FY2026 Recurrent Consumer Spending (RCS) to increase by approximately 7% year-over-year[32] Fiscal Year 2026 Guidance - The company anticipates GAAP Net Revenue between $5950 million and $6050 million for FY2026[23] - Operating expenses for FY2026 are projected to be between $3780 million and $3800 million[23] - The company expects a GAAP Net Loss between $499 million and $439 million for FY2026[23]

Core Insights - Take-Two Interactive reported fourth-quarter net bookings of $1.58 billion, a 17% increase year-over-year, surpassing the consensus estimate of $1.55 billion [1] - Adjusted earnings per share for the quarter were $1.08, slightly below the consensus estimate of $1.10 [1] Financial Performance - Net bookings from recurrent consumer spending rose 14% year-over-year, accounting for 77% of total net bookings in the quarter [2] - Total net bookings for the fiscal year reached $5.65 billion, a 6% increase year-over-year, with recurrent consumer spending up 7% for the full fiscal year, making up 70% of total net bookings [2] Management Commentary - CEO Strauss Zelnick highlighted the outstanding results for the 2025 Fiscal Year, noting meaningful contributions from each label [3] Future Guidance - Take-Two projects first-quarter net bookings to be between $1.25 billion and $1.30 billion [4] - Full fiscal-year net bookings are expected to range from $5.90 billion to $6.00 billion [4] - The company anticipates record levels of net bookings with the upcoming release of "Grand Theft Auto VI" in Fiscal 2027, which is expected to enhance profitability [5] Upcoming Releases - The game lineup for 2025 includes "Mafia: The Old Country," "Borderlands 4," and "WWE 2K Mobile," with future titles such as "NBA 2K26," "WWE 2K26," and "Grand Theft Auto VI," which has a new release date of May 26, 2026 [5] Stock Performance - Take-Two's stock decreased by 1.7% to $228.33 in after-hours trading, within a 52-week trading range of $135.24 to $238.00 [6]