Take-Two bookings fall 18% to $1.6bn, but full-year outlook holds ahead of GTA 6

Take-Two Interactive reported second-quarter net bookings of $1.60 billion on Monday, down 18% from a year earlier. Net revenue fell 16% to $1.50 billion. ¹

The figure landed slightly under the $1.62 billion to $1.67 billion range the company had advised. Bloomberg put Wall Street’s estimate at $1.65 billion. ¹²

The miss is attributed to NBA 2K27. Take-Two said the game had the second-highest net bookings launch in the series’ history, and still fell short of its own forecast for the period. ¹ Bloomberg reported that the game sold 4 million copies but missed the company’s unit-sales forecast. ² The company called the launch window “unusually busy” and said it expects bookings and engagement to pick up in the second half of the fiscal year as more post-launch content arrives. ¹

The quarter’s other lines were steadier. Take-Two posted a net loss of $54 million, compared with $133.9 million a year earlier. Grand Theft Auto 5 has sold nearly 235 million units, and recurrent consumer spending and average monthly GTA+ members each grew by a double-digit percentage. The Borderlands franchise passed 100 million units. ¹

Then there is the full year. Take-Two held its net bookings outlook at $8 billion to $8.2 billion and raised its full-year GAAP net revenue guidance to $7.98 billion to $8.18 billion, from $7.9 billion to $8.1 billion. ¹

The company expects third-quarter net bookings of $3.35 billion to $3.5 billion, against $1.76 billion in the same quarter last year. It also expects operating expenses to rise around 21% year-on-year that quarter on a management basis, primarily due to marketing for Grand Theft Auto 6. ¹

That game is due November 19. Take-Two said pre-orders are “tracking far in excess of our initial expectations.” CEO Strauss Zelnick said pre-orders continue to reach unprecedented levels and that the company expects an historic year. ¹

The sizing is in the guidance, not in a unit count.

Our read: this is our reading, not a company statement. A quarter that missed its own range sits next to a full-year outlook that did not move, and the two are reconciled by the third-quarter guide, which is roughly double the year-ago figure. What the quarter’s number says about 2K27 is a gap to forecast, not a collapse; what the full-year number says about GTA 6 is that management is leaning on it. The outlook line to watch is the third-quarter result: if bookings land inside $3.35 billion to $3.5 billion, the second-quarter miss will look small in the annual total. If they do not, the held range will need explaining. The next filing will say which.

Footnotes

1. GamesIndustry.biz, “Take-Two Q2 net bookings fall 18% to $1.6bn as NBA 2K27 misses forecast but GTA 6 pre-orders are “tracking far in excess” of expectations”. Retrieved November 9, 2026. ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸

2. Bloomberg, “Take-Two’s ‘NBA 2K’ Sales Miss Expectations Due to ‘Grand Theft Auto VI’”. Retrieved November 9, 2026. ↩ ↩²