Take-Two Interactive Software reported its net bookings for the first-fiscal quarter ended June 30 were $1.42 billion, up 17% from $1.22 billion for the same quarter a year ago. The results were above the company’s own guidance.
Good results for these games drove the bookings in the quarter: NBA 2K25, Grand Theft Auto V and Grand Theft Auto Online, Toon Blast, Match Factory!, Color Block Jam, Empires & Puzzles, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Toy Blast.
Strauss Zelnick, chairman and CEO of Take-Two Interactive, said in a statement, “Our outstanding first quarter results reflect ongoing demand for our core franchises and the increasingly diversified, successful nature of our business. We are raising our fiscal year 2026 net bookings outlook to $6.05 to $6.15 billion as a result of our strong start to the fiscal year. As we approach the release of the most ambitious pipeline in our company’s history, we have exceptional confidence in our multi-year outlook and our ability to
deliver meaningful shareholder returns.”
GAAP net revenue was $1.50 billion, compared to $1.34 billion in last year’s fiscal first quarter. GAAP net loss was $11.9 million, or seven cents per share, as compared to $262.0 million, or $1.52 per share, for the comparable period last year.
Non-GAAP net bookings from recurrent consumer spending grew 17% from a year ago and accounted for 83% of net bookings. In after hours trading, Take-Two’s stock price was up 6% to $241 a share.
Last quarter, Take-Two announced to eager gamers that it was giving Rockstar Games more time to finish Grand Theft Auto VI will improve quality, and it noted that its most recent trailer on GTA VI got 475 million views in 24 hours, up from the announcement trailer of 93 million views. Now that game is scheduled to debut May 26, 2026. So far, there hasn’t been more info on Grand Theft Auto VI.
Analysts believe the launch in 2026 could lift sales for the whole industry by billions of dollars, and it’s possible that the game will go out a price of $100 per copy.
But that pricing is likely to be a rarity. Take-Two’s Mafia: The Old Country game will debut at the end of this week for a lower price of $50, as it has a single-player campaign that will be relatively short at around 10 hours. EA announced its Battlefield 6 game coming on October 10 will be $70.
Take-Two has results that contain no significant surprises. During the quarter, Take-Two took the opportunity to raised $1.19 billion from the stock market, and it now has a war chest in excess of $2 billion in cash, possibly to make opportunistic acquisitions, said Zelnick in an interview with GamesBeat.
Analysts were expecting GAAP revenues of $1.31 billion and a loss per share of 72 cents.
Net bookings are the company’s operational metric, and it’s defined as the net amount of products and services sold digitally or sold-in physically during the period. It includes licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives. GAAP revenues don’t count revenue that is booked in the quarter but realized at later times.
As of June 30, 2025, Take-Two’s number of employees was 12,856, including 10,004 in-house development studio staff. That compared to the previous quarter of 12,928, including 10,096 in-house development studio staff.
During the quarter, Take-Two released Civilization VII for MetaQuest VR and Nintendo Switch 2.
Take-Two said each of its labels contributed meaningfully to performance in the quarter.
Division label results — 2K
NBA 2K25 delivered another quarter of “fantastic results,” the company said.
To date, the title has sold-in over 11.5 million units, and engagement grew significantly year-over-year with daily active users and MyCareer daily active users each up 30%, which helped drive 48% growth in recurrent consumer spending.
The company said 2K announced a new multiyear global partnership expansion with the NBA, NBPA, and WNBPA, and extended its longstanding relationships with the NBA G League and USA Basketball.
Engagement with other sports titles has been healthy, including WWE 2K25. The title launched on Nintendo Switch 2 in July, which expanded its audience and featured the same game modes that are available to players on PS5 and Xbox Series X/S.
Firaxis Games continues to introduce monthly updates for Sid Meier’s Civilization VII. In addition, the studio released the title for Nintendo Switch 2, our first offering for the platform, featuring new mouse controls that offer a more intuitive gameplay experience. Zelnick said the company is glad to see Nintendo’s success in selling the Switch 2 — more than six million hybrid consoles sold to date — and the company said it is very pleased to continue supporting Nintendo with additional titles launching throughout the year.
Rockstar Games
The Grand Theft Auto series once again exceeded Take-Two’s expectations. Momentum remains exceptionally strong, and to date, Grand Theft Auto V has sold-in over 215 million units worldwide.
During the quarter, engagement for Grand Theft Auto Online benefited from the record-setting launch of Grand Theft Auto VI Trailer 2 and the successful release of the “Money Fronts” Summer content pack, which culminated in higher than expected recurrent consumer spending growth.
The firm said it is pleased that new player accountsfor GTA Online grew over 50% year-over-year. But it is likely that GTA Online could decline as the launch date of GTA VI gets nearer. So far, that hasn’t happened, Zelnick said.
Zynga
Take-Two said the mobile business vastly exceeded expectations.
Peak’s successful Forever Franchise, Toon Blast, grew 22% over last year and nearly 75% on a two-year basis, driven by the “seasonal collection” feature that provided a new avenue of engagement for the game’s millions of active players.
Match Factory, another hit title from Peak, achieved record net bookings, as the title grew 33% over last year. Players experienced new features, such as the Treasure Cave event, as well as new levels.
Rollic’s newest hit, Color Block Jam, maintained its positive momentum and has become the highest-grossing title in the studio’s history. Throughout the quarter, Color Block Jam remained at the top of the App charts, demonstrating its strong market position and mass appeal. Rollic supported the title with its first bold beat, Pilot’s Drop, where players receive progressively larger rewards with each consecutive win, amplifying engagement and monetization.
2K’s mobile offerings also had a great quarter, including WWE SuperCard, which remains the label’s most successful mobile game, with over 37 million lifetime downloads. NBA 2K Mobile has been steadily growing its audience with new content and challenges, while NBA 2K25 Arcade Edition continues to top the Apple Arcade charts, and NBA 2K All-Star in China has been posting strong and profitable results since its launch in March.
Take-Two continues to focus on our mobile direct-to-consumer business, and the firm is achieving better conversion driven by new offers, events, and enhanced personalization. In the context of recent court rulings, the company sees ample runway for further growth in this area.
Outlook for FY26
Take-Two said it estimates net bookings for the FY26 year ending March 31, 2026 is $6.05 billion to $6.15 billion. GAAP revenue is expected to be $6.1 billion to $6.2 billion. Net loss is expcted to be $442 million to $377million.
Outlook for FYQ2 2025
For the second fiscal quarter ending September 30, Take-Two expects to deliver non-GAAP net bookings of $1.7 billion to $1.75 billion.
The company said the release slate for the quarter is very strong and includes Mafia: The Old Country, NBA 2K26, and Borderlands 4.
The firm expects recurrent consumer spending to increase by approximately 1%, which assumes: Low single-digit growth for NBA 2K; slight growth for Mobile; and a decline for Grand Theft Auto Online.
GTA VI expectations
Rockstar expects to release Grand Theft Auto VI on May 26, 2026, which is in fiscal year 2027.
Grand Theft Auto VI began development in earnest in 2020 following the massive success of Red Dead Redemption 2, and the title is now the most anticipated entertainment property of all time.
Consumer anticipation is unprecedented, with Trailer 2’s cross-platform debut last week shattering records to become the biggest video launch of all time, with over 475 million views in 24 hours. This follows Trailer 1’s record-breaking debut of 93 million views in 24 hours on YouTube alone. Spotify streams of the track featured in the trailer, Hot Together, by the Pointer Sisters, surged by 182,000%, once again proving Rockstar’s ability to influence popular culture.
The ambition and complexity of Grand Theft Auto VI is greater than any previous Rockstar title, and the team is poised to release another astonishing entertainment experience that will exceed players’ expectations. Zelnick said the $1.19 billion in public offering proceeds was not necessary to cover the marketing costs for GTA VI. But that is expected to be substantial.
Long-term outlook
The company said it is thrilled with its positive momentum and have enormous anticipation for this quarter’s launches of Mafia: The Old Country, NBA 2K26, and Borderlands 4.
Take-Two it said it remains deeply committed to excellence, to delivering the highest quality entertainment experiences for all of our audiences, and to driving meaningful returns for shareholders.
The firm said it has have great confidence in the long-term pipeline and expects to achieve record levels of net bookings in Fiscal 2027 that the firm believes will establish a higher baseline for the business, and set it on a path of enhanced profitability.
Pipeline FY26-FY28
Take-Two said are extremely optimistic about its upcoming pipeline, which includes approximately 38 titles through FY28 (as of May 2025).
Looking ahead, Take-Two currently expects to deliver 25 titles throughout Fiscal 2027 and 2028 including: 17 immersive core releases, including Grand Theft Auto VI and 5 sports simulation games; four mobile games; and four new iterations of previously-released titles.