Take-Two reiterates FY 2027 outlook, says Q2 total net bookings fell 18% YoY to $1.6B, vs. $1.65B est., and NBA 2K27 missed sales forecast partly due to GTA VI

Grand Theft Auto VI pre-orders are now exceeding expectations, suggesting it will be a major revenue driver for Take-Two.

Take-Two Interactive reported a 18% year-over-year decline in net bookings for its second fiscal quarter, reaching $1.6 billion, slightly below analyst expectations. The company noted that NBA 2K27, despite selling over 4 million units, fell short of its forecast, attributed partly to a crowded release window and competition from anticipated titles like Grand Theft Auto VI. However, Take-Two reiterated its full-year net bookings outlook of $8 billion to $8.2 billion, largely buoyed by exceptionally strong pre-order performance for Grand Theft Auto VI, set to launch on November 19. Recurrent consumer spending and GTA+ membership also saw double-digit growth, and the Borderlands franchise surpassed 100 million units sold. The company anticipates a significant increase in operating expenses for the third quarter due to marketing efforts for GTA VI.

The strong pre-order momentum for Grand Theft Auto VI indicates a significant market appetite for major AAA releases, potentially influencing the release strategies of competitors. This performance also validates Take-Two's long-term investment in its flagship franchises, even as individual titles like NBA 2K27 face market challenges. The company's ability to maintain its full-year outlook despite a quarterly shortfall highlights the outsized impact of its most popular games on overall financial performance.

This suggests that a substantial portion of the gaming market remains focused on a few blockbuster titles, with players willing to pre-purchase extensively for highly anticipated games. Investors and other publishers will be closely watching GTA VI's launch to gauge consumer spending power and the potential for similar success with their own tentpole releases. The performance of NBA 2K27 also underscores the intense competition within sports gaming and the challenges of forecasting demand in a dynamic market.