FinancialTake-Two Interactive
Second Quarter Fiscal 2026 Results & Guidance Summary
4 Nov 202516 pages~12 min full read
Take-Two Interactive exceeded Q2 fiscal 2026 expectations with $1.961 billion in Net Bookings, significantly outperforming the forecasted $1.700–$1.750 billion range.
The company raised its full-year fiscal 2026 Net Bookings guidance to $6.4–$6.5 billion, representing a 14% year-over-year growth at the midpoint.
Recurrent consumer spending (RCS) grew 20% year-over-year, driven by a 45% increase in NBA 2K and mid-teens growth in the mobile segment.
Grand Theft Auto VI is scheduled for release in November 2026 as part of a 38-title development pipeline planned through fiscal 2028.
Despite a GAAP net loss of $134 million, management projects fiscal 2027 will reach record Net Bookings levels, establishing a new baseline for profitability.
Operating expenses rose 13% during the quarter, primarily due to increased user acquisition investments in mobile and performance-based compensation.
Take-Two Interactive’s second-quarter fiscal 2026 financial results demonstrate significant growth, with performance exceeding previous guidance across several key metrics. Net Bookings reached $1.961 billion, surpassing the forecasted range of $1.700 to $1.750 billion. This overperformance was primarily driven by the robust success of NBA 2K, Mafia: The Old Country, and various mobile titles, which collectively offset initial softness in the launch of Borderlands 4. Recurrent consumer spending (RCS) grew by 20% year-over-year, significantly outperforming the projected 1% growth, fueled by a 45% increase in NBA 2K and mid-teens growth in the mobile segment.
Despite a GAAP net loss of $134 million for the quarter, the company has raised its full-year fiscal 2026 outlook. Management now expects annual Net Bookings to fall between $6.4 and $6.5 billion, representing 14% growth at the midpoint. The revised guidance also anticipates 11% growth in RCS and approximately $250 million in operating cash flow. While operating expenses rose 13% due to increased user acquisition investments in mobile and performance-based compensation, the company maintains that it is achieving significant operating leverage on its top-line growth.
The long-term strategy focuses on a robust development pipeline of 38 titles planned through fiscal 2028, categorized into immersive core, mobile, and new iterations of prior releases. Key upcoming milestones include the launch of Grand Theft Auto VI in November 2026 and several titles for the Switch 2 platform. Management expresses high confidence that this pipeline will lead to record levels of Net Bookings in fiscal 2027, establishing a new baseline for the business and a trajectory toward enhanced profitability. The geographic scope is international, covering global console, PC, and mobile gaming segments.
