Take-Two Interactive Software sprinkled mixed news into its quarterly earnings today, as it reported good quarterly results but noted another delay in the launch of Grand Theft Auto VI from May 2026 to November 19, 2026.
For the second fiscal quarter ended September 30, Take-Two said net bookings for fiscal year 2026 ending March 31, 2026, are now expected to range from $6.4 billion to $6.5 billion.
The change in the launch date is the second major adjustment that Take-Two’s Rockstar Games had made for the arrival of GTA VI, which has been in the works for many years. And now the game industry rivals will likely have adjust their schedules as well to stay out of the way of GTA VI’s newest arrival date. In after-hours trading, Take-Two stock is down 8%.
For the third fiscal quarter ended December 31, 2025, Take-Two expects bookings to be $1.7 billion to $1.75 billion.
During the second fiscal quarter, 2K launched three major titles, including NBA 2K26, which set multiple records and has been delivering an unprecedented level of in-game spending; the mobile business outperformed substantially, driven by the teams’ unparalleled innovation in Live Services; and Grand Theft Auto Online continued to benefit from its highly-engaged community.
Strauss Zelnick, Chairman and CEO of Take-Two Interactive, said in a statement, “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.”
Zelnick added, “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.”
And he acknowledged, “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.”
Second quarter fiscal 2026 financial and operational highlights
GTA V has now sold 220 million copies. Rockstar Games has announced that Grand Theft Auto VI will now be released on November 19, 2026, giving the team some additional time to finish the game with the high level of polish players expect and deserve. Rockstar has Take-Two’s full support, and Take-Two said it is confident Rockstar will deliver an unrivalled blockbuster entertainment experience.
Total net bookings grew 33% to $1.96 billion, compared to $1.47 billion during last year’s fiscal second quarter. Analysts had expected $1.73 billion for the quarter.
Net bookings from recurrent consumer spending grew 20% and accounted for 73% of total Net Bookings.
The largest contributors to the quarter’s net bookings were NBA 2K26 and NBA 2K25, Borderlands 4, Toon Blast, Grand Theft Auto Online and Grand Theft Auto V, Match Factory!T Color Block Jam, Mafia: The Old Country, Empires & Puzzles, Words With Friends, Red Dead Redemption 2 and Red Dead Online, and Toy Blast.
GAAP net revenue was $1.77 billion, compared to $1.35 billion in last year’s fiscal second quarter. Recurrent consumer spending increased 18% and accounted for 72% of total GAAP net revenue.
The largest contributors to GAAP net revenue were NBA 2K25 and NBA 2K26, Borderlands 4, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Match Factory!, Color Block Jam, Mafia: The Old Country, Empires & Puzzles, Words With Friends, and Red Dead Redemption 2 and Red Dead Online.
GAAP net loss was $133.9 million, or $0.73 per share, as compared to $365.5 million, or $2.08 per share, for the comparable period last year.
Net bookings is the company’s main operational metric and defined as the net amount of products and services sold digitally or sold-in physically during the period, and includes
licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives.
Recurrent consumer spending is generated from ongoing consumer engagement and includes virtual currency, add-on content, in-game purchases and in-
game advertising.
Recurrent consumer spending (RCS) rose 20% for the period, which outperformed our guidance of 1% growth, and accounted for 73% of Net Bookings. NBA 2K grew 45%; mobile increased mid-teens; and Grand Theft Auto Online declined, as expected. During the quarter, Take-Two launched Mafia: The Old Country, NBA 2K26, and Borderlands 4.
Peak’s forever franchise, Toon Blast, grew 26% year-over-year and approximately 90% over the past two years, driven by new gameplay elements and meta-game features, such as Card Collection.
Match Factory, another hit title from Peak, achieved record Net Bookings and grew 20% over last year. Players responded positively to innovative new features, including a Super Ball power-up, which increased engagement and monetization within the game.
Rollic’s hit title, Color Block Jam, continues to engage and grow its audience with new features and levels, and remains the highest-grossing title in the studio’s history. In addition, Rollic surpassed 3.8 billion lifetime downloads and achieved a new Net Bookings record for the quarter.
The CSR franchise achieved $1billion in lifetime in-game spending, with more than 180 million players worldwide since its launch in 2012, which we believe indicates real momentum ahead of the release of CSR 3.
Zynga Poker launched on Steam with full cross-functionality, enabling players to enjoy the game freely across mobile, web browsers, and PC.
2K’s mobile offerings had another strong quarter, with WWE SuperCard surpassing 38 million lifetime downloads; NBA 2K Mobile continuing to grow its audience; NBA 2K26 Arcade Edition holding its top-5 position on the Apple Arcade charts; and NBA 2K All-Star in China capturing 8M registered users after just six months in market.
Take-Two continues to focus on the mobile direct-to-consumer business, and it is achieving higher conversion driven by new offers, events, and enhanced personalization. Also, as a result of recent legislative changes, the teams have rolled out new technologies that enable direct transactions and new payment mechanisms, including solutions designed to support international growth, which should help the company expand meaningfully Net Bookings and margins via this highly accretive channel.
With the record-breaking launch of NBA 2K26, 2K and Visual Concepts once again it’s a hitmaker. To-date, the title has sold-in over five million units, representing a double-digit increase over NBA 2K25, and with Average Selling Prices reaching an all-time high, led by higher sales on premium editions.
Daily Active Users and MyCareer Daily Active Users grow nearly 30% and nearly 40%, respectively, which contributed to RCS growth of 45%. Players love many of the game’s new features, including a thriving hub of competition, a more accessible layout, all new rewards, and fresh cosmetics.
2K and Gearbox Software launched Borderlands 4 – the latest offering in our beloved looter-shooter franchise. The game received high critical praise, with many reviewers calling it “the best Borderlands yet.” The series’ highly active community eagerly welcomed the title, and during its opening weekend, it reached the largest concurrent player count on Steam in franchise history.
Borderlands 4 also dominated YouTube with 30M views and earned the #1 spot on Twitch during its launch, underscoring the franchise’s enduring mass appeal. While we experienced some challenges with optimization and performance on PC, Gearbox has been addressing these issues and releasing updates to improve gameplay. Take-Two said it is confident that Borderlands 4 will achieve strong unit sales over its lifetime.
2K and Hangar 13 released Mafia: The Old Country – the first new entry in our popular organized crime franchise in nearly a decade, which earned vast praise from critics and consumers alike. The title quickly surpassed internal expectations and affirmed the company’s belief that consumer demand remains strong for premium, narrative-driven experiences that over-index on value. The team at Hangar 13 will continue to push the boundaries for cinematic experiences in this series and in future creative pursuits.
Outlook for fiscal year 2026
Take-Two is raising its outlook for the fiscal year and providing its initial outlook for its fiscal third quarter ending December 31, 2025.
GAAP total net revenue is expected to be $6.38 billion to $6.48 billion (up 14% from its previous forecast). Share count used to calculate GAAP net loss per share is expected to be 183.9 million.
Share count used to calculate management reporting diluted net income per share is expected to be 186.3 million.
“The increase reflects our second quarter outperformance and higher expectations for many of our core franchises for the second half of the year,” the company said. “The largest contributors to Net Bookings are expected to be NBA 2K, the GTA series, Toon Blast, Match Factory, Borderlands 4, Color Block Jam, Empires & Puzzles, the Red Dead Redemption series, and Words with Friends.”
Take-Two now expect RCS to grow approximately 11%, representing 77% of Net Bookings. This growth percentage is more than double our prior forecast of 4%, driven by NBA 2K and higher expectations for several mobile titles. The revised RCS forecast assumes that NBA 2K now grows in the mid 20 percent range; mobile now increases approximately 10%; and Grand Theft Auto Online declines, which is unchanged from our prior forecast.
Take-Two projects the Net Bookings breakdown from the labels to be roughly 46% Zynga, 39% 2K, and 15% Rockstar Games.
Outlooks for FYQ3, 2025
For the fiscal third quarter ending December 31, 2025, Take-Two expects total net revenue $1,570 to $1,620 billion. Net income loss per share will be 35 cents to 49 cents. Non-GAAP EBITDA is expected to be $155 million to $178 million. Net bookings is expected to be $1.55 billion to $1.6 billion.
Production releases
The following have been released since July 1, 2025:
2K WWE 2K25 Switch 2 July 22, 2025
2K Mafia: The Old Country PS5, Xbox Series X|S, PC August 8, 2025
2K NBA 2K26 PS5, PS4, Xbox Series X|S, Xbox One, PC, Switch 2, Switch
2K Borderlands 4 PS5, Xbox Series X|S, PC September 12, 2025
Take-Two’s future lineup announced to-date includes:
Label Product Platforms Release Date
2K WWE 2K Mobile for Netflix iOS, Android Fall 2025
2K WWE 2K26 TBA Q4 Fiscal 2026
Rockstar Games Grand Theft Auto VI PS5, Xbox Series X|S November 19, 2026
2K Borderlands 4 Switch 2 TBA
Zynga CSR 3 iOS, Android TBA
Zynga Top Goal iOS, Android TBA
Ghost Story Games Judas PS5, Xbox Series X|S, PC TBA
2K Project ETHOS TBA TBA
2K BioShock next iteration TBA TBA
Following the successful launches of Mafia: The Old Country, NBA 2K26, and Borderlands 4, 2K plans to release new content and updates for each game that will provide our fans with even greater opportunities to engage with these franchises.
“Looking ahead, we believe strongly in our long-term pipeline, which includes the release of Grand Theft Auto VI on November 19, 2026, as well as the future launches of Judas, Project Ethos, CSR 3, Top Goal, the next BioShock, and many other exciting new titles from across our labels,” Take-Two said.