Take-Two Q2 2026 earnings: bookings jump 33%, GTA VI pushed to Nov. 2026
Take-Two's bookings jumped 33% and it raised its yearly outlook, but a fresh delay of Grand Theft Auto VI to November 2026 overshadowed the quarter.
| Q2 2026 | Reported |
|---|---|
| EPS | -$0.73 |
| Revenue | $1.77B |
Figures as reported by the company to the SEC for the quarter ended September 30, 2025. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Net bookings — Take-Two’s key sales metric covering digital game purchases and in-game spending — rose 33% year-over-year to $1.96 billion, driven by NBA 2K26, mobile titles, and continued player spending in Grand Theft Auto Online.
- Spending on live-service content such as virtual currency, in-game items and add-ons grew 20% year-over-year and made up 73% of total bookings, showing how much of the business now comes from ongoing player spending rather than one-time game sales.
- The company’s GAAP net loss narrowed compared with the same quarter last year, even though it remained unprofitable on that basis; Take-Two continues to carry large non-cash accounting charges tied to past acquisitions that weigh on reported earnings.
- Management raised its full fiscal-year 2026 net bookings forecast to a range of $6.4 billion to $6.5 billion, the second increase to that outlook this fiscal year.
- CEO Strauss Zelnick said the company saw “outstanding second quarter results” with momentum “across our business, particularly in mobile and NBA 2K.”
- Alongside earnings, Take-Two said its Rockstar Games studio will now release Grand Theft Auto VI on November 19, 2026, roughly six months later than previously announced; shares fell more than 8% the next trading day as investors focused on the delay rather than the quarter’s results.
- Over the trailing twelve months, operating margin stood at -1.56% and net margin at -4.48%, meaning the company still spent slightly more than it took in on a GAAP basis, even as revenue over that period grew nearly 18% versus the prior year.
Q2 2026 in context
| Metric | Sep 2025 | Sep 2024 | Change |
|---|---|---|---|
| Revenue | $1.8B | $1.4B | +31.1% |
| Net income | -$134M | -$366M | +63.4% |
| Free cash flow | $97M | -$165M | +158.4% |
| Diluted EPS | -$0.73 | -$2.08 | +64.9% |
| Gross margin | 55.3% | 53.8% | +1.5 pts |
| Operating margin | -5.5% | -22.0% | +16.4 pts |
| Net margin | -7.5% | -27.0% | +19.5 pts |
Figures for the quarter ended Sep 2025 and the quarter ended Sep 2024, as reported to the SEC.
How the stock took it
Take-Two Interactive Software Inc closed at $252.40 on Nov 6, 2025, the last session before the report, and at $234.06 on Nov 10, 2025, the first session after it — -7.3% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Sources: company report · Nasdaq · earnings call · InsiderFinance