FinancialTake-Two Interactive Software

Second Quarter Fiscal 2026 Results: Take-Two Interactive

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Key insights

7 takeaways · ~3 min read

01
Take-Two raised its full-year fiscal 2026 net bookings guidance to a range of $6.4 billion to $6.5 billion, driven by strong performance in core franchises.See it on page 8
02
Q2 fiscal 2026 net bookings reached $1.96 billion, exceeding initial guidance due to the NBA 2K franchise, Mafia: The Old Country, and mobile segment growth.See it on page 8
03
Recurrent consumer spending grew 20% year-over-year, fueled by a 45% increase in NBA 2K and mid-teens growth in mobile titles, offsetting a decline in Grand Theft Auto Online.See it on page 4
04
Grand Theft Auto VI remains the cornerstone of the company's future pipeline, with a scheduled release date of November 2026.See it on page 11
05
Operating expenses rose 13% year-over-year, attributed to increased investments in user acquisition and performance-based compensation.See it on page 4
06
The company expects to achieve record net bookings in fiscal 2027 as it leverages its diverse portfolio to establish a higher baseline for long-term profitability.See it on page 8
07
Strong performance in NBA 2K and mobile segments successfully mitigated the softer-than-anticipated initial launch of Borderlands 4.See it on page 4

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Summary

Take-Two Interactive’s second quarter fiscal 2026 results demonstrate strong operational performance, characterized by net bookings that significantly exceeded initial guidance. The company reported net bookings of $1.96 billion for the quarter, driven by robust contributions from the NBA 2K franchise, the launch of Mafia: The Old Country, and growth in the mobile segment. These gains successfully offset the softer-than-anticipated initial launch performance of Borderlands 4. Recurrent consumer spending, a key metric for the company, rose 20% year-over-year, bolstered by a 45% increase in NBA 2K and mid-teens growth in mobile titles, which balanced an expected decline in Grand Theft Auto Online.

Reflecting this momentum, the company has raised its full-year fiscal 2026 net bookings guidance to a range of $6.4 billion to $6.5 billion. This upward revision is supported by higher expectations for core franchises throughout the second half of the fiscal year. Management anticipates that recurrent consumer spending will grow by 11% for the full year, assuming continued strength in NBA 2K and mobile segments. While operating expenses increased by 13% year-over-year due to higher user acquisition investments and performance-based compensation, the company maintains a disciplined approach to capital allocation and expects to achieve record net bookings in fiscal 2027.

The company’s strategic pipeline remains focused on high-profile releases, including the highly anticipated Grand Theft Auto VI, scheduled for November 2026. The current development slate spans immersive core titles, mobile expansions, and new iterations of established intellectual property. By leveraging its diverse portfolio across console and mobile platforms, Take-Two aims to establish a new, higher baseline for business performance and long-term profitability.