Take-Two Interactive Q3 FY2026 Earnings: Revenue Jumps on GTA and NBA 2K Strength
Take-Two posted higher revenue and bookings growth for the quarter ended Dec. 31, 2025, and raised its full-year sales outlook, though it still expects a net loss for the year.
| Q3 2026 | Reported |
|---|---|
| EPS | -$0.50 |
| Revenue | $1.70B |
Figures as reported by the company to the SEC for the quarter ended December 31, 2025. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Total net bookings, a measure that captures digital sales and other deferred revenue alongside GAAP revenue, grew 28% year-over-year to $1.76 billion, which the company said came in well above the range it had guided to at the start of the quarter.
- Growth was broad-based: NBA 2K26 sold roughly 8 million units, a high-single-digit increase over its predecessor, with recurrent spending and daily active users both up about 30% year-over-year and on track for the franchise’s best year ever.
- Grand Theft Auto Online recurrent consumer spending grew 27%, boosted by a content update that added new mansion properties and brought back a fan-favorite character, showing the franchise’s live-service business continues to grow even years after its last major release.
- Recurrent consumer spending – ongoing purchases like in-game items and virtual currency rather than one-time game sales – made up 76% of total net bookings and grew 23%, underscoring how dependent Take-Two’s results are on players continuing to spend inside existing games.
- The company still reported a net loss for the quarter, consistent with trailing-twelve-month figures showing a negative operating margin (-1.56%) and negative net margin (-4.48%); management has said these losses partly reflect ongoing investment ahead of major upcoming releases.
- Take-Two raised its full-year fiscal 2026 net bookings guidance to a range of $6.65 billion to $6.7 billion, roughly 18% higher than fiscal 2025, while continuing to project a full-year net loss.
- CEO Strauss Zelnick said the quarter’s results reflected “outperformance from all of our labels,” pointing to strength across the company’s sports, action, and mobile game lines rather than any single title.
- Management reiterated that Grand Theft Auto VI, slated for a November 19 launch, is expected to drive record net bookings in fiscal 2027 and establish what the company calls a new financial baseline for the business going forward.
- On the mobile side, WWE SuperCard passed 38 million lifetime downloads and NBA 2K All-Star in China grew to nearly 9 million registered users in under a year, signs the company’s mobile portfolio is gaining traction outside its core console franchises.
Q3 2026 in context
| Metric | Dec 2025 | Dec 2024 | Change |
|---|---|---|---|
| Revenue | $1.7B | $1.4B | +24.9% |
| Net income | -$93M | -$125M | +25.8% |
| Free cash flow | $236M | -$48M | +590.0% |
| Diluted EPS | -$0.50 | -$0.71 | +29.6% |
| Gross margin | 55.7% | 55.9% | -0.2 pts |
| Operating margin | -2.3% | -9.7% | +7.4 pts |
| Net margin | -5.5% | -9.2% | +3.7 pts |
Figures for the quarter ended Dec 2025 and the quarter ended Dec 2024, as reported to the SEC.
How the stock took it
Take-Two Interactive Software Inc closed at $212.17 on Feb 3, 2026, the last session before the report, and at $193.24 on Feb 5, 2026, the first session after it — -8.9% across the report.
| Earlier report | Close before | Close after | Change |
|---|---|---|---|
| Nov 7, 2025 | $252.40 | $234.06 | -7.3% |
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 · earnings call