Main highlights
First-quarter revenue climbed to US$1.53 billion
Latest quarterly net loss widened
Grand Theft Auto VI supports full-year results forecast
TTwo shares rose 4.30% after the first-quarter earnings report, and revenue climbed to US$1.53 billion.
Although recurring consumer spending showed resilience, bookings fell 3% to US$1.39 billion.
Grand Theft Auto VI has been confirmed for release on November 19, anchoring the company's growth strategy.
The forecast for net bookings for fiscal year 2027 is stable in the range of US$8 billion to US$8.2 billion.
The quarterly net loss widened to US$34.1 million due to impairment losses of US$43.4 million.
Take-Two Interactive shares rose 4.30% to close at $242.47, recovering sharply from intraday lows of about $225 following the quarterly earnings report. The gaming giant's revenue grew year-on-year, and despite a slight decline in bookings, recurring player spending continued to drive most of its results. The company reiterated its commitment to the November 19 release window of Grand Theft Auto VI.
First quarter revenue climbs to US$1.53 billion
Take-Two disclosed that for the three months ended June 30, 2026, GAAP net revenue was US$1.53 billion, up from US$1.50 billion in the same period last year. Recurrent consumer spending increased by 3% year-on-year, accounting for 84% of GAAP's total revenue. Net bookings were US$1.39 billion, down 3% from US$1.42 billion in the same period last year. Among them, recurring consumer spending fell 1%, but still accounted for 84% of total bookings. The NBA 2K series and Grand Theft Auto series continued to be the main sources of revenue during the quarter. Other important contributors include "Toon Blast","Match Factory","Empires & Puzzles", and "The Red Dead". Words With Friends, WWE 2K, Zynga Poker and Toy Blast also played a supporting role in quarterly bookings. A diverse mix of games helped ease a trend of weak bookings over a three-month period.
Latest quarterly net loss expands
The company disclosed a GAAP net loss of US$34.1 million, equivalent to a diluted loss per share of US$0.18, compared with a loss of US$11.9 million, or US$0.07 per share in the same period last year. An impairment charge of $43.4 million resulted in an increase in costs in the most recent period. The impairment stems from Take-Two's decision to discontinue an unannounced third-party project. GAAP operating expenses totaled $918 million and gross profit was $882.5 million. The company's operating loss for the quarter was $35.5 million. Executives disclosed that after current regulation adjustments, non-GAAP EBITDA was US$167 million. These adjustments take into account the timing of deferred revenue, equity incentives, amortization of acquired intangible assets and other items. Take-Two uses a management tax rate of 18% in its internal performance analysis.
Grand Theft Auto VI supports full-year performance forecast
Take-Two reiterated its fiscal year 2027 net bookings guidance range of US$8 billion to US$8.2 billion. Issuers expect full-year GAAP revenue to be between $7.9 billion and $8.1 billion. Management also expects operating cash flow to exceed US$1 billion this fiscal year. "Grand Theft Auto VI" continues to target a November 19 release date and serves as the core of Take-Two's fiscal year 2027 lineup. Rockstar Games is developing it as the latest mainline work of the company's most valuable intellectual property. Leadership believes that the release will establish a higher revenue benchmark and strengthen long-term cash flow generation. For the current fiscal second quarter, Take-Two expects net bookings to be between $1.62 billion and $1.67 billion, and GAAP revenue is expected to be between $1.42 billion and $1.47 billion. The company forecast a net loss for the quarter of between $140 million and $157 million.


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