Take-Two Interactive Software generated 84% of its fiscal first-quarter Net Bookings from recurrent consumer spending as the company heads toward the planned November 19, 2026 launch of Grand Theft Auto VI and reiterates full-year bookings guidance of as much as $8.2 billion.
Fiscal Q1 Net Bookings totaled $1.39 billion, slightly above Take-Two’s guidance range, although they declined 3% from $1.42 billion a year earlier. Recurrent consumer spending decreased 1% but still represented 84% of total Net Bookings.
Recurrent consumer spending includes ongoing engagement through virtual currency, add-on content, in-game purchases and in-game advertising. The same category increased 3% on a GAAP revenue basis and represented 84% of Take-Two’s $1.53 billion of quarterly GAAP net revenue.
Major contributors included NBA 2K, the Grand Theft Auto series, Toon Blast, Match Factory!, Empires & Puzzles, the Red Dead Redemption series, Words With Friends, WWE 2K and Zynga Poker.
Take-Two reiterated fiscal 2027 Net Bookings guidance of $8 billion to $8.2 billion. GAAP net revenue is expected between $7.9 billion and $8.1 billion, while EBITDA is projected at $993 million to $1.053 billion.
The company also expects more than $1 billion of operating cash flow during fiscal 2027 and approximately $290 million of capital expenditures.
A major contributor to the expected step-up in scale is Rockstar Games’ Grand Theft Auto VI, which remains scheduled for release on PlayStation 5 and Xbox Series X|S on November 19.
Take-Two reported a Q1 GAAP net loss of $34.1 million, compared with an $11.9 million loss a year earlier. Cost of revenue included a $43.4 million impairment related to the company’s decision to stop development of an unannounced third-party title.
KEY QUOTES:
“Our excellent first quarter results reflect the power of our portfolio and disciplined execution across all of our labels. With these positive trends and excitement around the November 19th launch of Grand Theft Auto VI, we are reiterating our Fiscal 2027 Net Bookings outlook of $8.0 to $8.2 billion.”
“Looking further ahead, we expect to sustain this new level of scale and generate strong cash flows, setting us on a path to deliver continued growth and long-term shareholder returns.”
Strauss Zelnick, Chairman and CEO of Take-Two Interactive Software
