Take-Two reports $1.39 billion bookings as GTA VI nears

New York: Take-Two Interactive has reported strong first-quarter results for fiscal 2027, with net bookings of $1.39 billion as excitement continues to build around the highly anticipated launch of Grand Theft Auto VI. The company has also reaffirmed November 19, 2026 as the release date for Rockstar Games‘ next major title.

Take-Two’s net bookings for the quarter ended June 30, 2026 declined 2.7 per cent from $1.42 billion in the corresponding period last year. However, the figure came in better than the company’s previous expectations, helped by stronger-than-anticipated performances from the NBA 2K and Grand Theft Auto franchises.

GAAP net revenue stood at $1.53 billion, exceeding the company’s earlier guidance of $1.45 billion to $1.50 billion. Take-Two reported a GAAP net loss of $34 million, or 18 cents per share, compared with its earlier expectation of a loss between $27 million and $42 million.

The results come at an important point for the company, with Grand Theft Auto VI expected to become one of the biggest entertainment launches of the year.

GTA VI release date remains November 19

The biggest takeaway from Take-Two’s latest results is that the company continues to stand behind the November 19, 2026 launch date for Grand Theft Auto VI.

Take-Two CEO Strauss Zelnick said the company remains highly confident about the upcoming release while maintaining a cautious approach to expectations. He said the level of pre-orders has been “unprecedented” and “astonishing”, but stressed that pre-orders can still be cancelled.

The company has therefore decided not to increase its financial guidance despite the strong early response to the game.

Take-Two expects fiscal 2027 net bookings to reach between $8 billion and $8.2 billion, representing roughly 20 per cent growth over fiscal 2026. The forecast is being driven primarily by Grand Theft Auto VI, along with continued growth across the company’s wider portfolio.

Rockstar Games has also announced Grand Theft Auto VI: An Extended Look, which is scheduled to air on Netflix on August 27. Take-Two said the special is part of Rockstar’s broader marketing strategy and expects interest in the game to continue increasing as the November release approaches.

Grand Theft Auto series continues to perform

The Grand Theft Auto franchise remained one of Take-Two’s strongest contributors during the quarter. Recurrent consumer spending for the series increased 3 per cent year-on-year.

Grand Theft Auto V has now sold more than 230 million units worldwide, according to the company. The title continues to generate revenue through its long-running online component, while GTA+ membership is also showing significant growth.

Take-Two said GTA+ continues to benefit from regular content updates and monthly benefits, including the addition of NBA 2K26 to its games library.

The company also highlighted the Rockstar Mission Creator, a new set of tools that allows players to create and bring their own missions to life within the Grand Theft Auto ecosystem.

NBA 2K provides another major boost

The NBA 2K franchise was another major contributor to Take-Two’s quarterly performance.

NBA 2K26 has sold more than 12 million units to date, representing 9 per cent growth compared with NBA 2K25. The company described the title’s performance as outstanding and said engagement increased significantly during the quarter.

Recurrent consumer spending for NBA 2K grew 7 per cent. Average daily active users increased 15 per cent, while daily active users in the MyCareer mode rose 25 per cent. The average number of games played per user also increased 35 per cent.

The next instalment, NBA 2K27, is scheduled for release on September 4.

Take-Two also continues to support titles including Borderlands 4, Sid Meier’s Civilization VII and WWE 2K26 with new content and live-service updates.

Mobile business remains mixed

Take-Two’s mobile division, led by Zynga, delivered a mixed performance during the quarter.

Toon Blast recorded an 8 per cent year-on-year increase in net bookings, supported by a new marketing campaign featuring actor Giancarlo Esposito. Words With Friends also recorded 8 per cent growth, while Top Eleven delivered a stronger performance with net bookings increasing 15 per cent.

Empires & Puzzles maintained steady momentum, helped by its ninth anniversary campaign and the introduction of new characters and abilities.

At the same time, overall mobile bookings declined 7 per cent compared with the previous year. Take-Two expects mobile performance to remain under pressure during fiscal 2027 because of the exceptionally strong performance of some titles during the previous year.

The company said its direct-to-consumer mobile channels remain an important contributor to revenue and margins.

Take-Two expects record fiscal 2027

Take-Two is forecasting fiscal 2027 net bookings of $8 billion to $8.2 billion. GAAP revenue is expected to reach between $7.9 billion and $8.1 billion for the financial year ending March 31, 2027.

The company expects net income of $104 million to $143 million and EBITDA of between $993 million and $1.05 billion. Operating cash flow is expected to exceed $1 billion.

The company has also increased its expected capital expenditure to approximately $290 million, partly because of a planned real estate purchase.

Take-Two expects recurrent consumer spending to represent approximately 64 per cent of fiscal 2027 net bookings. The company expects NBA 2K to grow by a high-single-digit percentage, while the Grand Theft Auto franchise is expected to increase.

The expected contribution by label is approximately 37 per cent from Rockstar Games, 34 per cent from Zynga and 29 per cent from 2K.

Second-quarter expectations

For the second fiscal quarter ending September 30, Take-Two expects net bookings of between $1.62 billion and $1.67 billion, compared with $1.96 billion in the same quarter last year.

The quarter will include the release of NBA 2K27, along with new content updates for several existing titles.

Take-Two expects recurrent consumer spending to decline by approximately 5 per cent during the second quarter. The company expects growth from NBA 2K and Grand Theft Auto, but forecasts weakness in mobile gaming.

Operating expenses are expected to be between $1.01 billion and $1.02 billion.

Take-Two sees AI as a tool for creativity

During the analyst call, Zelnick also discussed the company’s approach to artificial intelligence.

He said Take-Two has used artificial intelligence and machine learning for years and views emerging technology primarily as a way to improve creativity and efficiency.

However, he stressed that the company does not see AI as a replacement for its creative workforce. Take-Two employs around 13,000 people globally, and Zelnick said technology should help its creators build larger and better entertainment experiences.

The company is also exploring both basic and applied AI research, including ways to improve development processes and create new efficiencies.

Zelnick said Take-Two’s priority is entertainment rather than simply becoming a technology leader, with technology being used to support the company’s broader creative ambitions.

GTA VI could reshape Take-Two’s year

With Grand Theft Auto VI scheduled for November 19, Take-Two is entering a potentially transformational period.

The company believes the game’s launch will establish a new level of scale for its business, while its established franchises, live-service offerings, mobile portfolio and upcoming releases are expected to provide additional support.

The company’s current pipeline includes NBA 2K27, PGA Tour 2K27, WWE 2K27, Judas, Project Ethos and the next BioShock, among other projects. Several titles do not yet have confirmed release dates.

Take-Two has not announced a release date for a PC version of Grand Theft Auto VI, while details regarding the next major GTA Online offering also remain limited.

Conclusion

Take-Two’s latest results show that the company is entering fiscal 2027 from a position of strength, despite the modest year-on-year decline in quarterly bookings. Strong performances from NBA 2K and Grand Theft Auto, combined with growing anticipation for Grand Theft Auto VI, have given the company confidence in its $8 billion to $8.2 billion full-year bookings forecast.

The biggest test will come in November. If Grand Theft Auto VI delivers on the enormous expectations surrounding its launch, Take-Two could be heading towards one of the most significant growth periods in its history.