Take-Two Bookings Fall 18% Ahead of GTA VI as It Maintains Annual Outlook

Net bookings for the second fiscal quarter fell to $1,601.3 million, compared with $1,960.5 million a year ago, with a net loss of $54 million. Recurrent consumer spending accounted for 81%.

For the October-to-December quarter, when GTA VI launches, the company expects between $3,350 million and $3,500 million, and it maintains between $8,000 million and $8,200 million for the fiscal year. Strauss Zelnick says GTA VI pre-orders “continue to reach unprecedented levels,” that the game comes out on November 19 on PS5 and Xbox Series X|S, and that the company will pursue accretive acquisitions. Digital pre-loading starts today, and Rockstar is celebrating the launch with a concert in Miami on November 21 featuring Travis Scott and Cardi B, together with PlayStation

NEW YORK–(BUSINESS WIRE)–November 9, 2026– Take-Two Interactive Software, Inc.(NASDAQ:TTWO) today reported results for the second quarter of its fiscal year 2027, which ended on September 30, 2026. For more information, please see the fiscal year 2027 second quarter results slide presentation posted on the company’s investor relations website at take2games.com/ir .

CEO Comments

Strauss Zelnick, Chairman and CEO of Take-Two Interactive, said: “The launch of Grand Theft Auto VI is ten days away and, with pre-orders continuing to reach unprecedented levels, we expect to deliver a historic year for our company. We are reiterating our outlook for fiscal year 2027 net bookings of $8.0 to $8.2 billion and are confident in our ability to capitalize on this incredible year as we launch new hits, explore emerging business opportunities, expand our geographic footprint and pursue accretive mergers and acquisitions; all of which will set us on the path to unlocking greater earnings potential and long-term shareholder value.”

Fiscal Year 2027 Second Quarter Financial and Operating Highlights

• Total net bookings* decreased 18% to $1.60 billion, compared with $1.96 billion during the second fiscal quarter last year.
  • Net bookings from recurrent consumer spending** decreased 9% and accounted for 81% of total net bookings.
  • The largest contributors to net bookings were NBA® 2K, the Grand Theft Auto® , series, Toon Blast™ , Match Factory!™ , Empires & Puzzles™, the Borderlands® , franchise, Words With Friends™, the Red Dead Redemption® series, Color Block Jam™ , WWE® 2K and Zynga Poker™.
• GAAP net revenue was $1.50 billion, compared with $1.77 billion in the second fiscal quarter last year.
  • Recurrent consumer spending** decreased 5% and accounted for 81% of total GAAP net revenue.
  • The largest contributors to GAAP net revenue were NBA 2K, the Grand Theft Auto series, Toon Blast , Match Factory!, Empires & Puzzles, the Borderlands franchise, Words With Friends, ColorBlock Jam, WWE 2K, the Red Dead Redemption series and Zynga Poker.
• GAAP net loss was $54 million, or $0.29 per share, compared with $133.9 million, or $0.73 per share, for the same period last year.

* Net bookings is our operational metric and is 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.

Fiscal Year 2027 Second Quarter Financial Results

The following data is used internally by the Company’s management and Board of Directors to adjust the Company’s GAAP and non-GAAP financial results in order to facilitate period-to-period comparisons of its operating performance and better understand its core business:

		Three Months Ended September 30, 2026
						Financial Data
dollars in millions		Statement of Operations				Change in deferred net revenue and related cost of revenue		Stock-based compensation		Amortization of acquired intangible assets		Business acquisition		Other (a)
GAAP
Total net revenue		$	1,497.0			104.3
Cost of revenue			636.6			3.3		(3.4)		(141.3)
Gross profit			860.4			101.0		3.4		141.3
Operating expenses			977.9					(86.6)		(11.7)		(3.1)
(Loss) income from operations			(117.5	)		101.0		90.0		153.0		3.1
Interest and other, net			5.6			0.9						0.6		(9.4)
(Loss) income before income taxes			(111.9	)		101.9		90.0		153.0		3.7		(9.4)
Non-GAAP
EBITDA			92.2			101.9		90.0				2.4		(9.4)

• The table above uses a management tax rate of 18%.
• The share count used to calculate management-reported diluted net income per share is 188.0 million.

^(a) Other includes adjustments for (i) fair value adjustments related to certain equity investments and (ii) the revaluation of the Turkish lira against the U.S. dollar.

Fiscal Year 2027 Outlook

Take-Two is updating its outlook for the fiscal year and providing its initial outlook for its third fiscal quarter ending December 31, 2026:

Fiscal Year Ending March 31, 2027

The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company’s GAAP and non-GAAP financial outlook in order to facilitate period-to-period comparisons of its operating performance and better understand its core business and future outlook:

		Fiscal Year Ending March 31, 2027
				Financial Data
In millions of dollars, except per share amounts.		Outlook (b)		Change in deferred net revenue and related cost of revenue		Stock-based compensation		Amortization of acquired intangible assets		Other
GAAP
Total net revenue		$7,980 to $8,180		$20
Cost of revenue		$3,679 to $3,800		$(27)		$(113)		$(572)
Operating expenses		$4,078 to $4,098				$(349)		$(51)		$(3)
Interest and other, net		$29
Income before income taxes		$194 to $253		$47		$462		$623		$3
Net income		$109 to $142
Diluted net income per share		$0.57 to $0.75
Net cash from operating activities		over $1,000
Capital expenditures		approximately $290
Non-GAAP
EBITDA		$1,024 to $1,082		$47		$462				$3
Operational metric
Net bookings		$8,000 to $8,200

• The tax rate for management reporting is expected to be 18%.
• The share count used to calculate GAAP and management-reported diluted net income per share is expected to be 189.5 million.

^(b) Individual components of the financial outlook may not sum to the totals, as the Company does not expect actual results for every component to simultaneously fall at the low or high end of the outlook range.

 Third Fiscal Quarter Ending December 31, 2026

The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company’s GAAP and non-GAAP financial outlook in order to facilitate period-to-period comparisons of its operating performance and better understand its core business and future outlook:

		Three Months Ending December 31, 2026
				Financial Data
In millions of dollars, except per share amounts.		Outlook (b)		Change in deferred net revenue and related cost of revenue		Stock-based compensation		Amortization of acquired intangible assets		Other
GAAP
Total net revenue		$3,270 to $3,420		$80
Cost of revenue		$1,649 to $1,732		$(13)		$(96)		$(141)
Operating expenses		$1,162 to $1,182				$(100)		$(12)
Interest and other, net		$13								$(1)
Income before income taxes		$446 to $493		$93		$196		$153		$1
Net income		$250 to $276
Diluted net income per share		$1.30 to $1.44
Non-GAAP
EBITDA		$651 to $698		$93		$196
Operational metric
Net bookings		$3,350 to $3,500

• The tax rate for management reporting is expected to be 18%.
• The share count used to calculate GAAP and management-reported diluted net income per share is expected to be 192.0 million.

^(b) Individual components of the financial outlook may not sum to the totals, as the Company does not expect actual results for every component to simultaneously fall at the low or high end of the outlook range.

Key assumptions and dependencies underlying the Company’s outlook include: the continuation of the current economic environment; the timely delivery of the titles included in this financial outlook; continued growth in the installed base of PlayStation 5 and Xbox Series X|S; the ability to develop and publish products that capture market share for these current-generation systems while leveraging opportunities on PC, mobile and other platforms; factors affecting our mobile performance, such as player acquisition costs; our continued focus on our live services portfolio and new games in development; and stable foreign exchange rates. See also the “Cautionary Note Regarding Forward-Looking Statements” below.

Product Releases

The following have been released since July 1, 2026:

Label	Product	Platforms	Release Date
Rockstar Games	Summer update Grand Theft Auto Online Kortz Center heist	PS4, PS5, Xbox One, Xbox Series X|S, PC	July 14, 2026
2K	NBA 2K27	PS5, Xbox Series X|S, Switch 2, PC	September 4, 2026

The lineup Take-Two has announced to date includes:

Label	Product	Platforms	Release Date
Rockstar Games	Grand Theft Auto VI	PS5, Xbox Series X|S	November 19, 2026
Zynga	Top Goal	iOS, Android	TBA
Zynga	CSR 3	iOS, Android	TBA
2K	PGA TOUR 2K27	TBA	TBA
2K	WWE 2K27	TBA	TBA
2K	Project ETHOS	TBA	TBA
2K	Next BioShock iteration	TBA	TBA
Ghost Story Games	Judas	PS5, Xbox Series X|S, PC	TBA

Conference Call

Take-Two will host a conference call today at 4:30 p.m. Eastern Time to review these results and discuss other topics. The call can be accessed by dialing (833) 461-5787 (meeting ID: 112-490-011). A live listen-only webcast of the call will be available at http://ir.take2games.com and a replay will be available afterward on the same website.

Non-GAAP Financial Measure
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses a non-GAAP measure of financial performance: EBITDA , which is defined as GAAP net income (loss) excluding interest (income) expense, provision for (benefit from) income taxes, depreciation expense, and amortization and impairment of acquired intangibles.

The Company’s management believes it is important to consider EBITDA, in addition to net income, as it removes the effect of certain non-cash expenses, debt-related charges and income taxes. Management believes that, when considered together with reported amounts, EBITDA is useful to investors and management in understanding the Company’s ongoing operations and analyzing current operating trends, as well as providing valuable additional insight into the Company’s operations and financial condition.

This non-GAAP financial measure should not be considered in isolation from, as a substitute for, or superior to GAAP results. This non-GAAP financial measure may differ from similar measures used by other companies. In the future, Take-Two may also consider whether other items should be excluded in calculating this non-GAAP financial measure. Management believes that the presentation of this non-GAAP financial measure provides investors with additional useful information for evaluating Take-Two’s financial and operating performance. In particular, this measure facilitates period-to-period comparisons of our operating performance and may help investors better understand Take-Two’s operating results. Internally, management uses this non-GAAP financial measure to evaluate the company’s operating results and for planning and forecasting. A reconciliation of this non-GAAP financial measure to the most comparable GAAP measure is included in the financial tables of this press release.

Final Results

The financial results discussed herein are presented on a preliminary basis; final data will be included in Take-Two’s Quarterly Report on Form 10-Q for the period ended September 30, 2026.

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through Rockstar Games, 2K and Zynga. Our strategy is to create hit entertainment experiences, available on every platform relevant to our audience through a variety of robust business models. Our pillars of creativity, innovation and efficiency guide our efforts to create the highest-quality, most captivating experiences for our consumers. The Company’s common stock is listed on NASDAQ under the symbol TTWO. For more corporate and product information, please visit our website at http://www.take2games.com .

All trademarks and copyrights contained herein are the property of their respective holders.

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein which are not historical facts, including statements relating to Take-Two Interactive Software, Inc.’s (“Take-Two,” the “Company,” “we,” “us,” or similar pronouns) outlook, are considered forward-looking statements under federal securities laws and may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes may vary materially from these forward-looking statements based on a variety of risks and uncertainties, including risks relating to the timely release and significant market acceptance of our games; the risks of conducting business internationally, including as a result of unforeseen geopolitical events; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; factors affecting our mobile business, such as player acquisition costs; and the ability to maintain acceptable pricing levels on our games.

Other important factors and information are contained in the Company’s most recent Annual Report on Form 10-K, including the risks summarized in the section entitled “Risk Factors,” the Company’s most recent Quarterly Report on Form 10-Q, and the Company’s other periodic filings with the SEC, which can be accessed at www.take2games.com . All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.