Take-Two Interactive Q3 Results Raise Outlook
Take-Two Interactive Q3 results show stronger sales, a narrower loss and a raised FY bookings guidance, likely spurring investor repositioning.
KEY TAKEAWAYS
- Net bookings reached $1.8B, up 28% year-over-year and above company guidance.
- Net revenue rose to about $1.7B while net loss narrowed to $93M, per the release.
- Management raised FY2026 net bookings guidance and confirmed GTA VI for November 2026.
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Take-Two Interactive reported fiscal third-quarter results for the period ended December 31, 2025, on February 3, 2026, showing stronger sales, a narrower loss, and a raised annual bookings outlook as the company confirmed a November 2026 launch for Grand Theft Auto VI.
Quarterly Results and Guidance
The company said in a press release and investor slide deck that net bookings for the quarter reached $1.8 billion, up 28.0% year-over-year from $1.4 billion, exceeding its guidance. Net revenue rose 25.0% to about $1.7 billion. Take-Two narrowed its net loss to $93 million, or $0.50 per share, from a $125 million loss, or $0.71 per share, a year earlier. Management raised its full-year 2026 net bookings forecast.
Chairman and CEO Strauss Zelnick said, "Our outstanding third quarter results reflect outperformance from all of our labels." The company expects roughly 8.0% growth in recurrent consumer spending, with operating expenses projected between $980 million and $990 million, a 12.0% increase driven by user-acquisition and compensation costs. Management noted varied momentum across formats, including low double-digit growth in mobile, mid-single-digit growth for NBA 2K, and a continued decline in GTA Online, which informs its near-term outlook.
GTA VI Launch and Portfolio Strength
Take-Two confirmed the Grand Theft Auto VI launch is scheduled for November 2026 and expects the title to be a major contributor in fiscal 2027. The company reported cash and liquidity of $2.2 billion. Key contributors to the quarter’s performance included NBA 2K, the Grand Theft Auto series, mobile titles such as Toon Blast and Match Factory, and Borderlands 4.
The results were released via press release directing investors to the slide deck; management did not accompany the release with an SEC filing. The combination of stronger net bookings across multiple labels and the upcoming GTA VI launch underpins the company’s raised guidance and outlook for fiscal 2027.
