Take-Two Interactive Software (TTWO) 6 Nov 24 2025 Q2 Earnings call transcript

Take-Two Interactive, a leading video game publisher, reported strong second-quarter results for its fiscal year 2025 ended September 30, 2024. The company's net bookings of $1.47 billion exceeded expectations, driven by the continued success of the Grand Theft Auto and Borderlands franchises. In a call led by Strauss Zelnick, Chairman and CEO, Take-Two Interactive expressed confidence in achieving record levels of net bookings in fiscal 2026 and 2027.

Grand Theft Auto V's Continued Success and Expansion of Grand Theft Auto Online

The success of Grand Theft Auto V was a major highlight, with more than 205 million units sold worldwide. Grand Theft Auto Online, an integral component of the franchise, also exceeded expectations, with sustained engagement and new features such as the multistage Assault on ATT-16 mode and anti-cheat system for PC. The addition of the classic title Bully to the GTA+ library further enhanced the subscriber base, which grew by 35% over last year.

Red Dead Redemption 2's Enduring Popularity and Successful PC Launch

Red Dead Redemption 2, another top-performing title, has sold over 67 million units and remains in the top 10 for global unit sales. The successful launch of Red Dead Redemption and Undead Nightmare for PC on October 29 added to the title's audience and sales.

NBA 2K25's Stellar Launch and Technological Updates

NBA 2K25, launched by 2K and Visual Concepts, achieved high ratings on new-gen consoles and significant growth in average revenue per user and average gains per user. The addition of 9,000 new pro play animations and a new dribble engine represent a major technological update for the series.

Zynga's Solid Performance and Expansion

Zynga, a subsidiary of Take-Two Interactive, delivered solid results, with Match Factory! scaling rapidly and expected to become Zynga's second largest title by the end of this year in terms of projected annual net bookings. Toon Blast, another successful title, saw net bookings increase by more than 50% over last year, driven by engaging new features and strategic investments in user acquisition.

Take-Two Interactive's Strategic Acquisitions and Future Growth Opportunities

Take-Two Interactive's acquisition of Gearbox Software is expected to capitalize on the growth opportunities for the Borderlands franchise and other Gearbox titles. The company remains optimistic about its blended monetization efforts in hypercasual games and the success of Screw Jam, which is a top 50 game in the U.S. App Lab store.

Conclusion

Take-Two Interactive's strong second-quarter results, driven by the success of its popular franchises and strategic acquisitions, underscore its position as a leading player in the video game industry. With a confident outlook and continued investment in new features, updates, and acquisitions, the company is poised for significant growth in the coming fiscal years.