Take-Two Raises Outlook, Expects Record FY2027 Net Bookings Driven by GTA 6

Why It Matters

The raised outlook signals stronger monetization of live‑service titles and validates investor confidence ahead of GTA 6, positioning Take‑Two for record revenue growth in a competitive gaming market.

Key Takeaways

• Q3 net bookings hit $1.76B, up 28%.
• Recurrent consumer spending now 76% of bookings.
• GTA 6 launch set for Nov 19 2026.
• Mobile drives 49% of Take‑Two bookings.
• FY2026 outlook raised to $6.65‑$6.70B.

Pulse Analysis

Take‑Two’s latest earnings release underscores a pivotal shift toward recurring revenue streams, with RCS accounting for three‑quarters of its $1.76 billion Q3 net bookings. This trend mirrors the broader industry move away from one‑time sales toward in‑game purchases, DLC, and virtual currencies, boosting cash flow stability. The company’s ability to narrow its operating loss while expanding top‑line revenue demonstrates effective cost management and a resilient portfolio that includes NBA 2K26, GTA Online, and mobile hits like Toon Blast.

The upcoming launch of Grand Theft Auto VI on November 19, 2026 is the centerpiece of Take‑Two’s growth narrative. Historically, new GTA releases generate massive spikes in both initial sales and long‑term microtransaction revenue, a pattern that analysts expect to repeat. With mobile platforms already delivering 49% of bookings and console share at 40%, GTA 6’s cross‑generational appeal is likely to amplify the company’s multi‑platform reach, driving higher average revenue per user (ARPU) and reinforcing its market leadership in live‑service ecosystems.

Investors are watching Take‑Two’s raised FY2026 guidance and FY2027 outlook as a bellwether for the gaming sector’s health. The firm’s confidence stems from a diversified title slate, strong geographic distribution—60% U.S. and 40% international—and a pipeline that includes titles like Civilization VII on Apple Arcade and WWE 2K26. As competition intensifies and consumer spending patterns evolve, Take‑Two’s focus on recurring monetization and flagship releases positions it to capture sustained growth, making it a compelling play for stakeholders seeking exposure to high‑margin digital entertainment.

Take-Two Raises Outlook, Expects Record FY2027 Net Bookings Driven by GTA 6

Doohyun “Biit” Lee · Feb 4, 2026

Take‑Two Interactive (hereafter, Take‑Two) announced through its earnings release for fiscal year 2026 third quarter (October – December 2025) on the 3rd (local time) that it recorded net bookings of $1.76 billion (approximately KRW 2.552 trillion). This represents a 28 % increase from $1.37 billion (approximately KRW 1.987 trillion) in the same period a year earlier, and it exceeded the guidance range the company had previously provided.

Take‑Two’s GAAP net revenue for the third quarter came to $1.70 billion (approximately KRW 2.465 trillion), up year over year, while its operating loss was tallied at $92.9 million (approximately KRW 134.7 billion). Net loss per share was $0.50, narrowing from a loss of $0.71 per share in the prior‑year quarter.

The key driver behind the performance improvement was growth in recurrent consumer spending (RCS). RCS, a metric that includes in‑game virtual currency, additional content (DLC), and other in‑game purchases, rose 23 % year over year and accounted for 76 % of total net bookings. Major revenue contributors included NBA 2K26, GTA Online, Grand Theft Auto V, Toon Blast, Match Factory, Empires & Puzzles, and Red Dead Redemption 2.

Alongside this earnings release, Take‑Two raised its full‑year net bookings outlook for fiscal year 2026 compared with its prior forecast. The company now expects total net bookings for fiscal year 2026 to come in between $6.65 billion (approximately KRW 9.6425 trillion) and $6.70 billion (approximately KRW 9.7150 trillion).

Strauss Zelnick, Take‑Two’s Chairman and Chief Executive Officer, said,

“Performance across all labels exceeded our expectations, and as a result we raised our outlook for fiscal year 2026.”

He added,

“We are seeing continued momentum across many parts of the business, and, supported by the launch of GTA 6 scheduled for November 19, we expect to achieve record levels of net bookings in fiscal year 2027.”

Grand Theft Auto VI (GTA 6), currently in development at Rockstar Games, will launch on November 19, 2026 for PlayStation 5 and Xbox Series X|S. 2K’s Sid Meier’s Civilization VII will release an iOS version for Apple Arcade on February 5, 2026, and WWE 2K26 is slated to launch on March 13, 2026 across PC and console platforms.

By platform, mobile accounted for the largest share of net bookings at 49 %, followed by console at 40 %, with PC and other platforms at 11 %. By region, the United States represented 60 % of total net bookings, while international markets accounted for the remaining 40 %.

For the fourth quarter ending March 31, 2026, Take‑Two projected net bookings of between $1.51 billion (approximately KRW 2.1895 trillion) and $1.56 billion (approximately KRW 2.2620 trillion).

This article was translated from the original that appeared on INVEN.