Take-Two reports revenue decline. GTA VI is expected to dramatically turn things around

Take-Two missed its quarterly gaming revenue guidance. The company expects to significantly improve its financial performance thanks to the imminent launch of GTA VI.

For the second quarter of fiscal 2027, Take-Two Interactive’s net bookings fell 18% to $1.6 billion, compared to $1.96 billion for the same period last year. The result fell short of the company’s forecast of $1.62–$1.67 billion. Among the reasons cited were softer sales of NBA 2K27 and a decline in recurrent player spending on mobile games.

Despite the downbeat quarter, the publisher maintained its full-year guidance at $8–$8.2 billion. NBA 2K27 delivered the second-best launch in franchise history, but failed to meet the company’s internal expectations. Conversely, sales of Grand Theft Auto titles exceeded forecasts.

Post-purchase player spending declined by 9%, even though Take-Two had expected a drop of only 5%. Drops across the NBA 2K and mobile segments were partially offset by growth in GTA.

The headline event for the company will be the release of GTA VI on November 19 for PS5 and Xbox Series X|S. According to Take-Two CEO Strauss Zelnick, pre-orders are hitting unprecedented levels and running significantly ahead of initial expectations. For the third quarter, the publisher projects net bookings of $3.35–$3.5 billion, as well as an approximately 12% increase in recurrent consumer spending.

Among other results: GTA lifetime sales approached 480 million copies, Red Dead Redemption topped 118 million, NBA 2K reached 175 million, and Borderlands crossed 100 million. Take-Two’s net loss for the quarter totaled $54 million, compared to $133.9 million a year earlier.