Take-Two Interactive Software Inc
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.55%.
Did TTWO Beat Earnings? Q4 2025 Results
Take-Two Interactive's fiscal fourth quarter painted a tale of two realities: solid operational momentum buried beneath a staggering accounting charge. Revenue climbed 13.1% year-over-year to $1.58 billion, nudging past the $1.57 billion consensus by 0.76%, while Net Bookings surged 17% driven by NBA 2K25, Grand Theft Auto Online, and a resilient mobile portfolio including Toon Blast and Match Factory!. But the headline number that rattled investors was an EPS loss of $21.08 per share — a breathtaking miss against the $0.05 loss analysts had expected — owing to $3.55 billion in goodwill impairments and $176.30 million in intangible write-downs, the bulk tied to the Zynga acquisition. Strip away those non-cash charges, however, and Q4 EBITDA reached $161.00 million, a sharp recovery from negative $19.60 million a year ago. Looking ahead, management guided fiscal 2026 Net Bookings of $5.90 to $6.00 billion, with analysts already watching whether <a href="https://247wallst.com/investing/2025/12/18/if-gta-vi-delivers-take-two-could-hit-300-in-2026/">GTA VI can deliver</a> the record results management is projecting for fiscal 2027.
- NBA 2K25 was the largest contributor to Q4 Net Bookings
- Grand Theft Auto Online and GTA V continued strong engagement
- Civilization VII launch contributed meaningfully to Q4 results
- Recurrent consumer spending grew 14% in Q4 and accounted for 77% of Net Bookings
- Mobile gaming accounted for 48% of Q4 net revenue
- Digital online distribution represented 96% of Q4 net revenue
- Toon Blast, hyper-casual mobile portfolio, and Match Factory! contributed significantly
“We achieved outstanding results in our 2025 Fiscal Year, with each of our labels contributing meaningfully to our performance. Our Fiscal 2026 outlook reflects continuing positive momentum, with Net Bookings guidance of $5.9 to $6.0 billion. As we bring our exciting lineup to market, including Grand Theft Auto VI in Fiscal 2027, we expect to achieve record levels of Net Bookings that will establish a new baseline for our business and set us on a path of enhanced profitability.”
Take-Two Interactive CEO, on the earnings call
Forward Guidance & Outlook
For fiscal year 2026 (ending March 31, 2026), Take-Two guides Net Bookings of $5.9 to $6.0 billion, GAAP net revenue of $5.95 to $6.05 billion, GAAP net loss of $499 to $439 million (or $2.79 to $2.45 loss per share), EBITDA of $508 to $562 million, operating cash flow of approximately $130 million, and capital expenditures of approximately $140 million. For Q1 FY2026 (ending June 30, 2025), the company guides Net Bookings of $1.25 to $1.30 billion, GAAP net revenue of $1.35 to $1.40 billion, GAAP net loss of $139 to $115 million (or $0.78 to $0.65 loss per share), and EBITDA of $114 to $136 million. Grand Theft Auto VI is expected to launch on May 26, 2026, in fiscal 2027, which management expects will establish record Net Bookings and enhanced profitability.
TTWO YoY Financials
TTWO Revenue by Segment
TTWO Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.