Take-Two Holds $8B+ Bookings Target as GTA VI Launch Approaches

Strauss Zelnick reiterated Take-Two's fiscal 2027 net bookings guidance of $8 to $8.2 billion during the company's second-quarter earnings, leaving the target unchanged even as Grand Theft Auto VI has yet to ship. That means the entire forecast now rests on a single unreleased title carrying more commercial weight than anything the company has launched before.

The reaffirmation matters because analysts and investors have been watching for any sign that the guidance might need to be walked back ahead of the GTA VI release. Holding the range steady is a signal from management that internal tracking on the game's performance, release timing, and pre-launch momentum remains on plan.

Zelnick also flagged accretive M&A as a capital allocation priority alongside organic growth levers like new titles, geographic expansion, and emerging business opportunities. For a publisher carrying a market capitalization of $38.7 billion, putting acquisitions explicitly on the list introduces a new variable for investors to monitor as cash generation ramps into the back half of fiscal 2027.

The phrase 'greater earnings power' in Zelnick's statement points to a longer arc beyond the GTA VI launch window itself. Take-Two has historically operated on thin margins relative to its bookings scale, so any commentary linking this release cycle to durable profitability improvement is worth tracking closely in the quarters that follow.