(Reuters) -Videogame publisher Take-Two Interactive Software ( TTWO ) forecast second-quarter bookings below Wall Street expectations on Thursday, a sign of sluggish spending on its popular titles such as "Grand Theft Auto" and "NBA 2K" in an uncertain economy.

The downbeat projection highlights weakness in in-game spending on live-service titles as customers cut back on discretionary purchases amid a cost-of-living crisis and still-high inflation.

The company expects bookings to be between $1.42 billion and $1.47 billion for the second quarter, while analysts on average estimate $1.47 billion, according to LSEG data.

It, however, expects to see sequential growth in its net bookings in fiscals 2026 and 2027.

"Grand Theft Auto" is one of Take-Two's most popular properties, with the franchise having accumulated billions of dollars in revenue since its inception in the late-nineties.

The company in May narrowed the release window for the highly anticipated "Grand Theft Auto VI" to fall of 2025, setting the stage for the launch of the next installment of one of the most popular video game franchises in the world.

The company reported first-quarter bookings of $1.22 billion, missing analysts' estimate of $1.25 billion.