Take-Two Interactive has published its financial results for its second fiscal quarter, with net bookings down 18% to $1.60 billion and net revenue down 16% to $1.50 billion.
Net bookings came in slightly below the $1.62 billion to $1.67 billion the publisher had advised. Take-Two said NBA 2K27 had the second-highest net bookings launch in the series’ history, but still fell short of its forecast for the period.
The company has kept its full-year net bookings outlook at $8 billion to $8.2 billion, with Grand Theft Auto 6 due to launch on November 19.
Here’s what you need to know:
The numbers
- Net revenue: $1.50 billion (down 16% year-on-year)
- Net loss: $54 million (compared to $133.9 million loss in the year-ago quarter)
- Total net bookings: $1.60 billion (down 18% year-on-year)
The highlights
NBA 2K27 has sold over 4 million units since its September 4 launch. Take-Two said the launch window was “unusually busy,” and expects net bookings and engagement to pick up in the second half of the fiscal year as more post-launch content arrives.
The Grand Theft Auto series beat the publisher’s forecast for the quarter. Grand Theft Auto 5 has now sold nearly 235 million units, and both recurrent consumer spending and average monthly GTA+ members grew by a double-digit percentage.
Take-Two said pre-orders for Grand Theft Auto 6 are “tracking far in excess of our initial expectations.” The company expects operating expenses to rise by around 21% year-on-year in the third quarter on a management basis, primarily due to marketing for the game.
The Borderlands franchise has passed 100 million units sold.
Mobile performed in line with Take-Two’s plans. Net bookings for Color Block Jam fell by double digits against a peak in the same quarter last year, while Toon Blast grew 4% and Words With Friends grew 6%, helped by a collaboration with Wheel of Fortune. NBA 2K All-Star, released in China with Tencent, has passed 11 million registered users.
“The launch of Grand Theft Auto VI is ten days away and, with pre-orders continuing to reach unprecedented levels, we expect to deliver an historic year for our company,” said Take-Two CEO Strauss Zelnick.
Looking ahead, Take-Two expects third-quarter net bookings of $3.35 billion to $3.5 billion, compared to $1.76 billion in the same quarter last year. It has also raised its full-year GAAP net revenue guidance to between $7.98 billion and $8.18 billion (it was previously between $7.9 billion and $8.1 billion).
In August, Take-Two Interactive subpoenaed Microsoft, Discord, and X regarding the ongoing Grand Theft Auto 6 leaks.