Take-Two's net revenue for the third quarter increased by 25%, reaching $1.7 billion, driven by strong performances from the NBA 2K and Grand Theft Auto game series
Take-Two Interactive has unveiled its results for the third fiscal quarter, highlighting a 25% increase in net revenue and a 28% rise in bookings.
The growth is attributed to the success of the NBA 2K and Grand Theft Auto series, along with strong performance in its mobile sector.
Consequently, the company has adjusted its full-year net bookings forecast to a range of $6.65 billion to $6.7 billion, citing better-than-expected third-quarter results and higher forecasts for key titles in the final quarter.
Financial Overview
- Net revenue: $1.7 billion (an increase of 25% from the previous year)
- Net loss: $92.9 million (down from $125.2 million in the same quarter last year)
- Total net bookings: $1.76 billion (up 28% year-over-year)
Key Developments
The quarter saw a notable rise in NBA 2K and Grand Theft Auto franchise sales, alongside mobile advances led by Zynga.
NBA 2K26 has reached sales of approximately eight million copies. Key metrics such as consumer spending, daily active users, and MyCareer user activity rose by 30% over the previous year.
The title is projected to achieve the most significant annual net bookings and consumer spending in the series' history, according to the publisher.
The Grand Theft Auto series surpassed Take-Two's projections, with a 27% increase in consumer spending driven by the latest update to GTA Online.
GTA 5 sales have crossed 225 million units since its 2013 release. The membership for GTA+ has doubled when compared to the same period last year.
On the mobile front, Peak's Toon Blast experienced a 43% year-over-year increase, surpassing $3 billion in lifetime net bookings. Peak's Match Factory also saw an approximately 17% growth year-over-year.
Mobile ad revenue improved by 10% year-on-year, propelled by higher average revenue per daily active user.
"Our outstanding third-quarter results reflect the strong performance across our brands, prompting us to raise our fiscal 2026 net bookings forecast," stated Strauss Zelnick, CEO of Take-Two.
Zelnick continued, "With sustained momentum across our business sectors and the upcoming launch of Grand Theft Auto 6 on November 19, 2026, we anticipate setting new records in fiscal 2027, which will provide a new financial foundation, enhance profitability, and bolster our financial flexibility."
In light of the recent results, Take-Two adjusted its annual net bookings projection to a range of $6.65 billion to $6.7 billion, up from the earlier estimate of $6.4 billion to $6.5 billion, due to strong third quarter performance and optimistic forecasts for key releases in the fourth quarter.
Prior to Take-Two's financial disclosures, an interview with GamesIndustry.biz delved into insights from Zelnick about GTA 6’s launch, the integration of AI, and a disagreement with the IWGB union following layoffs in October.
"Our commitment to employee relations is serious, and we place great trust in our team," Zelnick remarked.
Regarding the dispute, he added, "The tribunal dismissed the union's request for interim relief, which we believe was the correct decision. While we regret the necessity of staff dismissals, we uphold our choices, which were validated in the hearing's outcome."