Take-Two Interactive Software Inc
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.90%.
Did TTWO Beat Earnings? Q2 2026 Results
Take-Two Interactive posted a strong fiscal second quarter, reporting GAAP net revenue of $1.77 billion — up 31% year-over-year — while narrowing its GAAP net loss to $133.90 million from $365.50 million in the prior-year period, translating to a loss of $0.73 per share. The headline driver was a 33% surge in Net Bookings to $1.96 billion, fueled by NBA 2K26, Borderlands 4, and the company's expanding live services ecosystem, with recurrent consumer spending representing 73% of total Net Bookings. Non-GAAP EBITDA swung to a positive $116.70 million from a loss of $75.50 million a year earlier, reflecting meaningful operating leverage. The results arrived alongside a pivotal announcement: Grand Theft Auto VI now has a confirmed launch date of November 19, 2026, a delay that briefly rattled investors despite otherwise impressive financials. Management raised its full-year FY2026 Net Bookings outlook to $6.40–$6.50 billion and signaled expectations for record Net Bookings in FY2027, a trajectory that has analysts asking whether <a href="https://247wallst.com/investing/2025/12/18/if-gta-vi-delivers-take-two-could-hit-300-in-2026/">GTA VI can justify</a> a far higher valuation.
- Net Bookings grew 33% YoY to $1.96 billion, exceeding guidance
- Recurrent consumer spending grew 20% and accounted for 73% of total Net Bookings
- Strong performance from NBA 2K26 and NBA 2K25 launches
- Borderlands 4 launch contributed significantly to quarter
- Mobile and live services momentum across Zynga titles including Toon Blast, Match Factory!, and Color Block Jam
- Grand Theft Auto Online and Grand Theft Auto V continued strong engagement
- Mafia: The Old Country new release contribution
“We achieved outstanding second quarter results by releasing new hit titles, driving innovation in live services, and maintaining our commitment to developing the highest quality products. With momentum across our business, particularly in mobile and NBA 2K, we are raising our Fiscal Year 2026 Net Bookings forecast for the second consecutive quarter. Rockstar Games will now release Grand Theft Auto VI on November 19, 2026, and we remain both excited and confident they will deliver an unrivalled blockbuster entertainment experience. With the most robust pipeline in our Company's history, we expect to achieve record levels of Net Bookings in Fiscal 2027, which 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
Take-Two raised its FY2026 outlook for the second consecutive quarter. Full-year FY2026 Net Bookings are now expected at $6.4 billion to $6.5 billion. GAAP net revenue is expected at $6.38 billion to $6.48 billion. GAAP net loss is expected at $414 million to $349 million ($2.25 to $1.90 per share). Non-GAAP EBITDA is expected at $579 million to $637 million. Net cash from operating activities is expected at approximately $250 million with capital expenditures of approximately $180 million. For Q3 FY2026 (ending December 31, 2025), Net Bookings are expected at $1.55 billion to $1.6 billion, GAAP net revenue at $1.57 billion to $1.62 billion, and GAAP net loss of $90 million to $65 million. Management expects record Net Bookings in FY2027, establishing a new baseline and a path of enhanced profitability. Grand Theft Auto VI is now launching November 19, 2026.
TTWO YoY Financials
TTWO Revenue by Segment
TTWO Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.