Take-Two Q2 FY27: revenue falls 15.6% as GTA VI looms
The quarter itself was weak: revenue fell 15.6% to $1.50 billion and Take-Two posted a $54.0 million net loss. What matters more is the guide. Management reiterated fiscal 2027 net bookings of $8.0 billion to $8.2 billion with GTA VI launching ten days after the report, which implies roughly $5.0 billion to $5.2 billion of bookings in the second half alone. Read the quarter as a placeholder and the outlook as the real story.
1 · Expected vs. Actual
Free preview belowThe GAAP net loss was $54.0 million, or $0.29 per share, versus a $0.73 loss a year earlier — an improvement, but still a loss. Gross margin rose to 57.5% from 55.3%, yet operating expenses of $977.9 million swamped gross profit of $860.4 million. A $57.9 million tax benefit did most of the work in narrowing the reported loss.
Revenue of $1.50 billion fell 15.6% from $1.77 billion a year earlier, and net bookings fell 18% to $1.60 billion. Recurrent consumer spending was 81% of both revenue and bookings, so the base is annuity-like rather than hit-driven. Mobile was the largest platform at $731.1 million, or 48.8% of revenue, with console at $615.4 million and PC and other at $150.5 million.
Management reiterated fiscal 2027 net bookings of $8.0 billion to $8.2 billion and guided fiscal third-quarter net revenue to $3.27 billion to $3.42 billion, a $3.35 billion midpoint. With $2.99 billion of bookings already booked in the first half, the reiterated range implies roughly $5.0 billion to $5.2 billion in the second half. Third-quarter net bookings guidance is $3.35 billion to $3.50 billion, about double what the company just delivered.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-09
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