The stock is up about 4 percent today, breaking a recent downward trend that had seen it slip for much of the past month. This jump is thanks to the company confirming its next Grand Theft Auto game is still on track for a November 2025 launch.
Our view
Confirming the launch timing for its biggest franchise removes a major piece of uncertainty for the next year. If you have been thinking about buying the stock, this is a fair price to pay for a business entering its most significant growth phase.
Revenue beat and a confirmed November launch for GTA VI
Take-Two reported revenue of $1.53 billion for the quarter, which was higher than the $1.36 billion analysts expected. While it reported a loss of $0.18 per share, the focus for this company is on net bookings, a measure of the total value of products and services sold. Bookings reached $1.39 billion, slightly beating the company's own targets.
The most important news for long-term owners is that the company confirmed Grand Theft Auto VI is still on track for a November launch. This game is the central piece of the company's growth plan, and management reiterated its goal to reach over $8 billion in total bookings for the full year. The stock rose about 4 percent as the confirmed timeline removed some fears of a delay.
The company reports its latest results today, with analysts looking for revenue of about 1.36 billion dollars. While quarterly numbers often fluctuate based on game release schedules, the focus for long-term owners remains on the timing of Grand Theft Auto VI.
We are watching for any updates on that Fall 2025 launch window and the performance of recurrent consumer spending. This is the money players spend inside games like NBA 2K and GTA Online, which provides the steady, high-margin profit that carries the business between its major blockbuster releases.
New material agreement and termination of previous contract
Take-Two filed a notice with regulators stating it has entered into a new material agreement and terminated an existing one. These filings are standard when a company makes a significant change to its business contracts, such as securing a new credit line or ending a major partnership.
While the filing confirms the change is large enough to be legally required to report, it does not immediately change the outlook for the business. The company is currently focused on the upcoming launch of Grand Theft Auto VI, and routine shifts in its financial or operational contracts are expected as it prepares for that release.
Analysts expect steady results as focus shifts to Grand Theft Auto VI
Analysts at Jefferies expect the company to report results that align with expectations, though they project a 4 percent drop in net bookings. Net bookings represent the total amount of products and services sold digitally or in stores during the period. This dip is largely due to slower performance in the mobile gaming division.
For long-term owners, the current quarter is mostly a waiting room. The real value of the business is tied to the launch of Grand Theft Auto VI. Any updates from management on that release window will matter far more than the specific profit numbers from the past few months.
The company has set its first quarter earnings release for the morning of August 7. This report will provide the first look at how the business is performing in the new fiscal year. While the numbers themselves are important, the primary focus will be on any commentary regarding the development progress and launch timing of its major upcoming titles.
Analysts have maintained a steady stream of positive ratings throughout the summer, with a fresh round of support following the company's latest earnings report. Most analysts, 45 of 57, rate the stock a buy with an average target of $291, suggesting 20% upside from today's price.
Average target$290.67+20%vs $242.20 today
TodayAvg price
Low $280High $300
Strong Buy57 analysts
0Bearish
12Neutral
45Bullish
FirmRatingPrice TargetDate
Raymond James
Outperform
$300
8/6/2026
Wells Fargo
Overweight
$287→$289
7/7/2026
BMO Capital
Outperform
$280→$285
6/25/2026
BTIG
Buy
$290
6/24/2026
Piper Sandler
Overweight
$280
6/2/2026
Wells Fargo
Overweight
$293→$287
5/22/2026
Wedbush
Outperform
$300
3/3/2026
Raymond James
Outperform
$285
2/10/2026
BMO Capital
Outperform
$275→$280
2/4/2026
Wells Fargo
Overweight
$288→$301
2/4/2026
UBS
Buy
$292→$300
1/28/2026
Morgan Stanley
Overweight
$275→$280
1/13/2026
Take-Two Interactive earnings
Management has a habit of beating their own targets, clearing the bar in six of the last eight quarters. This suggests they tend to be conservative with the numbers they give to analysts.
Earnings history
EstimateBeatMiss
Take-Two Interactive past earnings results
Expected
Actual
Surprise
EPS
$0.33
$0.18
-45.0%
Revenue
$1.36B
$1.53B
+13.0%
Key highlights
Annual bookings outlook maintained: The company expects net bookings, which represents the total value of products and services sold, to be between $8.0 billion and $8.2 billion for the full fiscal year. Keeping this target is significant because it confirms the business is still on track for a record year of sales as it prepares for its next major game release.
Recurrent spending remains dominant: Ongoing customer spending on virtual currency and in-game items made up 84% of total net bookings this quarter, slightly up from 83% a year ago. This high level of repeat business from existing games provides a steady stream of predictable income while the company develops new titles.
Canceled game costs impact profit: Take-Two took a $43.4 million charge because it decided to stop developing an unannounced game from an outside studio. This expense contributed to a net loss of $34.1 million for the quarter, which is wider than the $11.9 million loss reported during the same time last year.
Mobile revenue sees dip: Revenue from mobile games fell 5% to $762.3 million compared to $801.7 million last year, now making up exactly half of total sales. While the company still saw strong performance from titles like Match Factory, the overall decline shows the current challenges in growing the mobile audience.
Grand Theft Auto VI date set: Management confirmed that the next installment of their biggest franchise, Grand Theft Auto VI, is scheduled to launch on November 19, 2026. This specific date gives investors a clear timeline for the most important catalyst in the company's history, which is expected to drive the massive jump in bookings guided for this year.
Our take: A steady quarter that serves as a quiet prelude to a massive year ahead. While the mobile business saw a small 5% dip, the company held its $8 billion annual sales target and finally set a firm date for its most anticipated game. This confirms the long-term growth story remains intact.
Take-Two Interactive’s next earnings date
Q2 2027
AUG
7
Expectation
EPS
$0.33
Revenue
$1.36B
Metrics we are tracking
Metric
Expectations
Status
Net Bookings Growth
Reaching record levels above $8 billion by FY2027
$8.0B to $8.2B guided for FY2027
Recurrent Consumer Spending
Maintaining at least 70% of the total revenue mix
84% of Net Bookings in Q1 2027
GTA VI Active Users
Exceeding 100 million players within the first year of launch
N/A (Game launch set for Nov 2026)
Operating Margin
Expanding toward 25-30% by fiscal year 2031
-2.3% operating margin in Q1 2027
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