Take-Two offers good fiscal year news, including sticking to its GTA VI date

Take-Two Interactive announced today that it is sticking to its launch date of November 19, 2026 for the launch of Grand Theft Auto VI. On top of that, it reported results for its fourth quarter and fiscal year that hit expectations. The stock is up 6.5% in after-hours trading on the news.

Total net booking for the the fourth quarter ended March 31, 2026, were $1.58 billion, at the high end of the guidance of $1.51 billion to $1.56 billion range. Recurrent net bookings were up 7% in the quarter and were 82% of the net bookings.

The high bookings reflected better-than-expected performance from the Grand Theft Auto series, several mobile titles, and the Red Dead Redemption series.

Recurrent Consumer Spending growth was strong, increasing 7% over last year, and accounting for 82% of Net Bookings. This included 7% growth for mobile, and 5% growth for Grand Theft Auto Online, both of which surpassed our expectations.  

NBA 2K increased 10%, which represented one of the strongest fourth quarters in franchise history, but was softer than anticipated, as trends moderated from the extreme growth we achieved during the second and third quarters of the year.

During the quarter, the company launched Sid Meier’s Civilization VII for Apple Arcade, PGA TOUR 2K25 for Switch 2, and WWE 2K26.

For the fiscal year, net bookings were $6.72 billion, slightly above the guidance of $6.65 billion to $6.7 billion. It was also approximately $750 millino above the initial guidance we provided last May. 

NBA 2K delivered record Net Bookings and Recurrent Consumer Spending; Zynga achieved its highest level of Net Bookings since we acquired the business in 2022; and the Grand Theft Auto series once again exceeded our expectations and continued to drive significant Net Bookings and deep engagement with its passionate community of players.

Recurrent Consumer Spending grew 17% and accounted for 78% of Net Bookings.  NBA 2K grew over 30%; mobile increased 13%; and Grand Theft Auto Online increased 6%, all sharply exceeding our initial May guidance. The company spent about $163 million on capital expenditures, lower than expected.

During the fourth quarter the company saw “fantastic performance” in the mobile business.

Toon Blast grew approximately 25% year-over-year, as Peak introduced new events and features, including Temple Guardians, Deep Quest, and refined level experiences.

Strauss Zelnick – Photographed in New York City 10/18/2023 Match Factory continued to perform, with players responding positively to its live service execution and a continuous pipeline of player-friendly features, such as the collectible album. 

Empires and Puzzles outpaced our forecast and grew 5% over last year, driven by a robust slate of in-game events celebrating the title’s 9 th  anniversary.

Color Block Jam grew 15% year-over-year and remains the highest-grossing title in Rollic’s history. 

Top Eleven delivered its strongest quarter ever after 16 years in market, driven by superb performance of the Bundesliga and live operations innovation.

2K’s mobile offerings posted another solid quarter, with WWE SuperCard reaching nearly 39M lifetime downloads; NBA 2K Mobile continuing to expand itsaudience; NBA 2K26 Arcade Edition maintaining its top-5 position on the Apple Arcade charts; and NBA 2K All-Star in China growing to nearly 10M registered users after just one year in market.

The direct-to-consumer channel continues to drive Net Bookings and margin growth, as Take-Two integrated additional mobile titles from our portfolio and deepen relationships with players by reducing payment friction and enhancing the end-to-end user experience, which is generating improvements in conversion and customer loyalty. As the regulatory landscape continues to evolve, we are even more confident in the sustainability and growth profile of this platform.

The Grand Theft Auto series continues to outpace expectations significantly and demonstrate incredible momentum leading up to the launch of Grand Theft Auto VI on November 19, 2026, the company said.

Recurrent Consumer Spending grew 5% year-over-year, with strong engagement in GTA Online driven by A Safehouse in the Hills – one of the best-performing updates in its history. 

This content offering provided a wide range of community-requested features, including mansion properties, the return of Michael De Santa from Grand Theft Auto V, all-new missions, vehicles, exclusive GTA+ benefits, and the powerful, new Rockstar Mission Creator that allows content creators to make their own GTA experiences. 

Sales of Grand Theft Auto V advanced further, with nearly 230M units sold-in to-date. GTA+ continues to see significant growth year-over-year, led by the holiday update and highly attractive monthly benefits, such as the inclusion of NBA 2K26 in its games library.

Red Dead Redemption 2 achieved its highest level of annual unit sales since its launch year, with over 85M units sold-in to-date.

During the fourth quarter, the sports offerings performed well. NBA 2K26 continued to expand its audience. To-date, the title has sold-in over 10M units, representing a 5% increase over NBA 2K25. Recurrent Consumer Spending grew 10%, as we benefited from higher Daily Active Users and Games Played Per User. 

In keeping with our strategic focus on innovation, Visual Concepts launched Season 5 for NBA 2K26 – their first-ever college-themed offering, featuring 16 iconic universities – which was welcomed by NBA 2K’s vast community and provided a glimpse of what’s to come in college basketball for next year and beyond.

On March 13, 2K and Visual Concepts launched WWE 2K26, which was well-received by critics and consumers alike. Engagement has been excellent with Recurrent Consumer Spending up 20% year-over-year and more than 85M matches played – an increase of 7% compared to WWE 2K25. 2K is supporting the title with multiple updates through its Ringside Pass. 

PGA TOUR 2K25 enjoyed a fantastic resurgence. 2K captured an influx of new players and drove strong organic interest by aligning Season 5 with the start of the PGA TOUR season in January and including the title in PlayStation Plus. During the quarter, our consumers played 60M rounds of golf, representing a 110% increase over the third quarter. 2K will support the franchise throughout the year with several more content updates.


Thanks to the expectations around Grand Theft AutoVI, net bookings for the fiscal year ending March 31, 2027, are for $8 billion to $8.2 billion. RCS net booking are expected to be flat, while capital expenditures will be about $200 million.

GAAP revenue is expected to be $7.9 billion to $8.1 billion, while GAAP net income is expected to be $105 million to $141 million. GAAP net income per share is expected to be 55 cents to 75 cents.

Outlook for FY27:

FY27 is poised to be a breakout year for Take-Two, led by the November 19 release of Grand Theft Auto VI – arguably, the most anticipated entertainment property of all time, and we are excited that Rockstar Games will start their marketing campaign this summer. 

The initial financial outlook for FY27 includes record Net Bookings of $8B-$8.2B, which reflects approximately 20% growth over FY26, primarily due to the launch of Grand Theft Auto VI on November 19 th , along with successful execution across our entire portfolio.

The lLargest contributors to Net Bookings are expected to be the Grand Theft Auto series, NBA 2K, Toon Blast, Match Factory, Empires & Puzzles, the Red Dead Redemption series, Words With Friends, Color Block Jam, and Zynga Poker.

Expect Recurrent Consumer Spending to be flat compared to FY26 and to represent 65% of Net Bookings. Our recurrent consumer spending forecast assumes NBA 2K is up high single-digits; the Grand Theft Auto series is up; and mobile is down, due to last year’s success of Color Block Jam, and our assumption that trends will moderate for several of Zynga’s mature mobile titles.

Expect the Net Bookings breakdown from our labels to be roughly 36% Rockstar Games, 35% Zynga, and 29% 2K.

Forecasting Operating Cash Flow in excess of $1B, and we expect to be in a Net Cash position by the end of the Fiscal Year. We plan to deploy approximately $200M of capital expenditures for game technology and office build outs. 

The total operating expenses are expected to range from $4.18B-$4.2B. On a management basis, we expect operating expense growth of approximately 8% year-over-year, which represents significant leverage over FY26. This growth is largely due to higher marketing expense to support the launch of Grand Theft Auto VI and our new mobile releases, as well as higher R&D costs. 

Expect to sustain this higher level of scale and generate strong cash flows well into the future as we release our robust, long-term development pipeline and capitalize on new opportunities across our highly established, multi-faceted business.

Net bookings for the first fiscal quarter ending June 30 are expected to be $1.32 billion to $1.37 billion, with RCS net bookings likely down 3%. GAAP revenue is expected to be $1.45 billion to $1.5 billion, while the GAAP net loss will be $42 million to $27 million, or a net loss of 23 cents to 15 cents.

Largest contributors to Net Bookings are expected to be NBA 2K, the Grand Theft Auto series, Toon Blast, Match Factory, Empires & Puzzles, the Red Dead Redemption series, Color Block Jam, Words With Friends, and Zynga Poker.

Project Recurrent Consumer Spending to decline by approximately 3%, which assumes high single-digit growth for NBA 2K and declines for mobile and the Grand Theft Auto series.

Operating expenses are planned to range from $926M-$936M. On a management basis, operating expenses are expected to grow by approximately 3% year-over-year, primarily driven by a modest increase in personnel costs.

Take-Two’s future lineup announced to-date includes:

The company said it is incredibly excited by the promise of the future – for players, the organization, and the shareholders. 

This year has the opportunity to be a major inflection point for the company, defined by groundbreaking entertainment experiences, creative and operational excellence, and record Net Bookings. 

With the flexible balance sheet, our strong cash position, and the expectation that the company will generate over $1 billion in Operating Cash Flow this Fiscal Year, the firm believes it is extraordinarily well-positioned to take measured creative risks; to pursue accretive M&A; and to invest in technology that will unlock greater creative capabilities and operational efficiencies across our organization. 

Take-Two said it is exceedingly optimistic that it will continue to drive greater success and shareholder value for the long-term.    

The firm is extremely optimistic about the upcoming pipeline, which includes 29 titles through FY29. 

In the interest of precision, Take-Two said it is now only counting mobile games in its pipeline that have been specifically scheduled for worldwide launch within the three-year window. The teams continue to develop and test many new titles not reflected in this outlook, some of which may be added to our multi-year count.

FY27 is set to be a milestone year, led by the launch of Grand Theft Auto VI on November 19. The company plans to release 6 additional titles during the fiscal year, including:

2 mobile titles; 3 sports titles, which are NBA 2K27, PGA TOUR 2K27, and WWE 2K27; and 1 platform extension.

The labels will also continue to provide new content and experiences that drive engagement and Recurrent Consumer Spending across many of our previously released titles.

Looking ahead, Take-Two currently expects to deliver 22 titles throughout FY28 and FY29 including: 1mobile title; 5 sports titles; 3 Core New IPs; and13 Core Existing IPs, which includes 7 sequels and 6 remakes, remasters, and platform extensions.

Take-Two looks forward to sharing more about our groundbreaking pipeline, which the company believes will drive a new period of growth and long-term returns for shareholders.

preliminary basis; final data will be included in Take-Two’s Annual Report on Form 10-K for the period ended March 31, 2026.

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