Earnings · $TTWO
Take-Two Bookings Fall 18% to $1.6 Billion, Below Estimates, as the Company Holds Its Outlook Ten Days Before GTA VI
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Shares fell about 4% after hours as third-quarter guidance came in under the Wall Street average; the full-year bookings range was reiterated.
By Noris Ortiz ·
Take-Two Interactive reported a drop in fiscal second-quarter bookings after the close on Monday, Nov. 9, and kept its full-year outlook in place ten days before the planned release of Grand Theft Auto VI. Net bookings for the quarter ended Sept. 30 fell 18% to $1,601.3 million from $1,960.5 million a year earlier, the company said in its earnings release [1]. Reuters reported that analysts had expected $1.67 billion, according to its coverage of the results [2].
The release showed GAAP net revenue of $1,497.0 million, down from $1,773.8 million a year earlier. The net loss was $54.0 million, or $0.29 per share, narrower than the loss of $133.9 million, or $0.73 per share, in the same quarter last year [1]. Recurrent consumer spending, which covers items such as in-game purchases, totaled $1,302.1 million. That was down 9% and made up 81% of total net bookings [1].
Guidance drew more attention than the quarter itself. Take-Two reiterated fiscal 2027 net bookings of $8,000 million to $8,200 million and GAAP diluted earnings per share of $0.57 to $0.75 for the year ending March 31, 2027 [1]. For the fiscal third quarter, which runs through Dec. 31 and includes the game's launch, it forecast net bookings of $3,350 million to $3,500 million and GAAP earnings per share of $1.30 to $1.44 [1]. Reuters said the bookings range was below the average analyst estimate of $3.51 billion, based on LSEG data [2]. Chief Executive Strauss Zelnick said in the release, "we expect to deliver an historic year for our company" [1].
The stock reacted negatively. Shares fell about 4% in extended trading and were down more than 17% for the year at that point, Reuters reported [2]. The move came on a day when broader markets rallied, with the Nasdaq Composite up 2.74% at the close, Yahoo Finance data showed [3].
The company's results are closely tied to the game. GTA VI is scheduled for release on Nov. 19, 2026, on PlayStation 5 and Xbox Series X|S, according to the company [1]. Reuters said Take-Two is counting on the title to drive bookings over the next several quarters, noted that the release comes about 13 years after the previous game, and said pre-orders opened in June after several delays [2]. It also cited Sensor Tower data showing about 7.71 million digital pre-orders worldwide as of Nov. 3, an estimated gross revenue of more than $750 million [2].
For investors, the launch is the central test. The third-quarter bookings range sits slightly below the analyst average, and the company's full-year range was left unchanged, so results from the Nov. 19 release will show how much of the guidance depends on the new game [1][2].
What to watch next: the Nov. 19 launch and early player and sales data from third-party trackers, any change to the full-year range when the company next reports, and how the stock trades against the broader market in the days around the release. Figures reflect Monday's after-hours session and may change.
Sources:
[1] Take-Two Interactive Software, Inc. (SEC Form 8-K exhibit), "Take-Two Interactive Software, Inc. Reports Results for Fiscal Second Quarter 2027", November 9, 2026. https://www.sec.gov/Archives/edgar/data/0000946581/000162828026072175/ttwo2q27earningsrelease.htm
[2] Reuters (via Investing.com), "Take-Two projects third-quarter bookings below estimates", November 9, 2026. https://www.investing.com/news/stock-market-news/taketwo-projects-thirdquarter-bookings-below-estimates-5013240
[3] Yahoo Finance, "Stock market today: Nasdaq surges despite Nvidia stock slide, Dow and S&P 500 rally as AI tech trade rises", November 9, 2026. https://finance.yahoo.com/markets/live/stock-market-today-monday-november-9-dow-sp-500-nasdaq-nvidia-090535419.html
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.