What is the market's earnings forecast for Take-Two Interactive next quarter?

What factors drove the changes in Take-Two Interactive's revenue and profit?

What does Take-Two Interactive do and what are its main business segments?

Did Take-Two Interactive beat or miss consensus estimates last quarter?

What is Take-Two Interactive's latest dividend and current dividend yield?

What guidance did Take-Two Interactive's management provide for the next earnings period?

What is the revenue and EPS growth rate for Take-Two Interactive year over year?

What were the key takeaways from Take-Two Interactive's earnings call?

- **Q2 Record Performance**: $1.96B net bookings (+31% YoY), driven by NBA 2K26 (5M units sold) and mobile titles like Toon Blast (+26% YoY). 
- **Mobile Growth Engine**: Direct-to-consumer initiatives boost mobile net bookings +10% YoY, with Rollic's Color Block Jam hitting a record. 
- **Raised Guidance**: FY26 net bookings $6.4B-$6.5B (14% growth), with NBA 2K and mobile titles accounting for 77% of recurrent spending. 
- **GTA V Delay**: Postponed to November 2026 for polish, with no impact on GTA Online engagement (220M units sold). 
- **Margin Expansion**: Mobile gross margin improving due to reduced third-party fees and direct transactions.

**【CEO Summary Section】**
- **Record Q2 Net Bookings**: $1.96 billion, driven by NBA 2K26 (5M units sold, highest average selling price), mobile titles like Toon Blast (+26% YoY), and Rockstar's GTA Online engagement (20% growth in GTA+ memberships). 
- **Mobile Growth Acceleration**: Direct-to-consumer transactions and new payment mechanisms boosted mobile net bookings by mid-teens, with Rollic's Color Block Jam hitting a net bookings record. 
- **Pipeline Strength**: Raised FY26 net bookings guidance to $6.4B-$6.5B (14% YoY growth), with NBA 2K, GTA series, and mobile titles accounting for 77% of recurrent consumer spending. 
- **GTA V Delay**: Postponed to November 2026 to ensure polish, with no change to GTA Online support or engagement trends (220M units sold to date). 

**【CFO Financial Commentary】**
- **Q2 Financials**: GAAP net revenue $1.77B (+31% YoY), operating expenses $1.1B (+5% YoY) due to mobile UA investments. 
- **Recurrent Consumer Spending**: $1.43B (+20% YoY), with NBA 2K up 45% and mobile +mid-teens. 
- **FY26 Guidance**: 
  - Net bookings $6.4B-$6.5B (14% growth) 
  - Recurrent consumer spending $4.9B-$5B (+11%) 
  - Mobile net bookings $2.3B-$2.4B (+10%) 
  - Operating cash flow $250M 
- **Margin Expansion**: Direct-to-consumer initiatives and legislative changes driving higher margins, with mobile gross margin improving due to reduced third-party fees. 

**【Q&A Highlights】**
- **Mobile Margin Growth**: Direct-to-consumer transactions and legislative changes enabling 10%+ mobile net bookings growth and margin expansion. 
- **GTA V Strategy**: Delay reflects commitment to quality, with no impact on GTA Online monetization (declining as expected). 
- **AI Implementation**: Used for efficiency in QA, asset generation, and analytics, not replacing creative roles. 
- **NBA 2K Retention**: Early access passes, premium SKUs, and community features driving 30% DAU growth in MyCareer mode. 
- **Competitive Position**: Independent status and balance sheet strength (expected to be net cash by FY26) support M&A flexibility.

Take-Two Interactive Software, Inc.(TTWO)-20251107-2026 Q2 Earnings call transcript

- **Q1 Beat with Record Net Bookings**: $1.42B net bookings (+22% YoY), driven by Mobile (+low teens), NBA 2K (+48% RCG), and GTA Online (+50% new accounts).
- **Mobile Growth Engine**: Toon Blast up 22%, Color Block Jam becomes Rollic's top title, and Zynga invests in user acquisition to sustain momentum.
- **NBA 2K Unstoppable**: 11.5M units sold, RCG up 48%, with engagement metrics (DAU +30%) signaling long-term stickiness.
- **FY26 Guidance Raised**: Net bookings to $6.05-6.15B (+8% YoY), with RCG growth revised up to +4%.
- **Strategic Moves**: 
  - Launching 11 major titles in FY26, including Switch 2 debuts for NBA 2K26 and Borderlands 4.
  - Expanding direct-to-consumer monetization amid app store regulatory shifts.
  - Maintaining disciplined capital allocation with focus on quality over quantity.

**【CEO Summary Section】**
- **Record Q1 Net Bookings**: $1.42 billion, exceeding guidance of $1.25-1.3 billion, driven by Mobile titles (Toon Blast, Match Factory!), NBA 2K, and GTA Online.
- **Mobile Success**: Mobile net bookings grew low teens, with Toon Blast up 22% YoY and Rollic's Color Block Jam becoming the studio's highest-grossing title.
- **NBA 2K Dominance**: Sold over 11.5 million units, with RCG spending up 48% YoY, fueled by MyCAREER and MyTEAM engagement.
- **GTA Series Resilience**: GTA V sold over 215 million units, GTA Online new accounts up 50% YoY, and GTA VI trailer launch driving engagement.
- **Updated FY26 Guidance**: Net bookings raised to $6.05-6.15 billion (midpoint +8% YoY), with RCG expected to grow 4% (vs. prior flat forecast).

**【President's Remarks】**
- **Upcoming Releases**: 
  - *Mafia: The Old Country* (Aug 8) with 2.5M wishlists and strong press reception.
  - *NBA 2K26* (Sept 5) debuting on Switch 2, featuring Gen 9 tech and expanded MyCAREER mode.
  - *Borderlands 4* (Sept 12) praised as "best in series" with Switch 2 launch in October.
- **Pipeline Confidence**: 2026 slate includes 11 major releases, positioning for record net bookings in FY27.

**【CFO Financial Commentary】**
- **Q1 Financials**: 
  - GAAP net revenue: $1.5 billion (+12% YoY)
  - Cost of revenue: $559M (-1% YoY)
  - Operating expenses: $923M (-3% YoY)
  - RCG: $1.17 billion (+17% YoY, 83% of net bookings)
- **FY26 Outlook**: 
  - Net bookings: $6.05-6.15 billion (45% Zynga, 39% 2K, 16% Rockstar)
  - RCG: +4% (vs. prior flat)
  - Mobile: low single-digit growth
  - GTA Online: decline
  - Operating cash flow: $130M
- **Q2 Guidance**: 
  - Net bookings: $1.7-1.75 billion (vs. $1.47B last year)
  - RCG: +1% YoY
  - OpEx: $1.02-1.03 billion (+7% YoY)

**【Q&A Highlights】**
- **NBA 2K Growth**: Driven by improved telemetry analysis and engagement in MyCAREER/MyTEAM modes, with no single feature cited as the driver.
- **Mobile Deceleration**: Attributed to mature titles' natural decline and hyper-casual titles' shorter life cycles.
- **Capital Allocation**: 3 priorities - organic growth, accretive M&A (e.g., Gearbox acquisition), and shareholder returns (buybacks at "deep value").
- **Pricing Strategy**: Focus on delivering value above price point, with variable pricing based on title quality and platform.
- **Macro Risks**: Acknowledged potential consumer caution but emphasized flight to quality in entertainment; Take-Two's focus on high-quality IPs should mitigate risk.
- **App Store Regulation**: Viewed as positive for fair distribution; company plans to expand direct-to-consumer monetization (e.g., in-game currency sales via web stores).

Take-Two Interactive Software, Inc. (TTWO) Q1 2026 Earnings Call Transcript

- **Record Q4 Performance**: $1.58B net bookings driven by NBA 2K25 (10M units sold) and GTA Online (5% recurrent spending growth). 
- **2026 Outlook**: $5.9-6.0B net bookings (5% YoY growth), with GTA VI launch in FY2027 as key inflection point. 
- **Mobile Success**: Zynga's Match Factory! and Color Block Jam are profitable hits, with mobile net bookings up 7% YoY. 
- **Consumer Engagement**: GTA VI trailer 2 set record 475M views in 24 hours, signaling unprecedented demand for FY2027 release. 
- **Cost Efficiency**: Operating expenses expected to grow 3% YoY in FY2026, below net bookings growth rate. 


**【CEO Summary Section】**
- Q4 2025 net bookings reached $1.58 billion, driven by strong performance across all labels. NBA 2K25 sold 10 million units, while GTA Online recurrent spending grew 5% YoY. 
- Fiscal 2026 net bookings outlook is $5.9-6.0 billion (5% YoY growth), with GTA VI set to launch in FY2027. 
- Zynga mobile titles like Match Factory! and Color Block Jam are profitable and scaling rapidly. 
- Direct-to-consumer business is a key growth driver, enabled by recent legal rulings on third-party app stores.

**【CFO Financial Commentary】**
- FY2025 GAAP net revenue: $5.63 billion (+5% YoY). Recurrent consumer spending: $4.52 billion (+7% YoY, 80% of total bookings). 
- FY2026 guidance: $5.9-6.0 billion net bookings, with 76% of bookings from recurrent consumer spending. 
- Operating expenses expected to grow 3% YoY in FY2026, driven by higher marketing costs. 
- FY2025 operating cash flow: ($45 million) due to timing of tax payments. 

**【Q&A Key Highlights】**
- **Mobile Growth**: Zynga's Match Factory! and Color Block Jam are profitable hits, demonstrating ability to launch new native mobile titles. 
- **GTA VI Anticipation**: Trailer 2 shattered records with 475M views in 24 hours, signaling unprecedented consumer demand. 
- **Zynga Integration**: Zynga's core franchises (Toon Blast, Words with Friends) remain strong, while new titles drive growth. 
- **Switch 2 Strategy**: Launching 4 titles on Switch 2, including Borderlands 4 and Civilization VII, to capitalize on platform momentum. 
- **Pricing Strategy**: Variable pricing based on delivering value, with Mafia: The Old Country priced at $50 to maximize accessibility. 


Take-Two Interactive Software, Inc. (TTWO) Q4 2025 Earnings Call Transcript

- **NBA 2K Dominance**: 30%+ recurrent spending growth, 7M+ units sold, and 20%+ engagement metrics boost Q3 net bookings to $1.37B.
- **Growth Catalysts**: GTA VI (Q4 2025), Civilization VII (Feb 2025), and Mafia: The Old Country set to drive FY26/FY27 record net bookings.
- **Mobile Recovery**: Match Factory nearing profitability, June Blast/Toy Blast double-digit growth, but Empires & Puzzles faces challenges.
- **Financial Highlights**: FY25 net bookings $5.55B-$5.65B (+5% YoY), operating cash flow outflow $150M, capex $140M for game tech expansion.

**【CEO Summary Section】**
- **NBA 2K Strong Performance**: Net bookings of $1.37 billion, driven by NBA 2K's 30%+ recurrent spending growth and 7 million+ units sold. Engagement metrics (DAU +20%, MAU +10%) exceeded expectations.
- **Pipeline Momentum**: GTA VI (Q4 2025 launch), Civilization VII (Feb 2025), Mafia: The Old Country (Summer 2025), and Borderlands 4 (Q4 2025) set to deliver record net bookings in FY26/FY27.
- **Mobile Growth**: Match Factory on track to become Zynga's 2nd largest title by FY25 end, with June Blast and Toy Blast showing double-digit growth. Empires & Puzzles facing headwinds but strategic updates planned.

**【CFO Financial Commentary】**
- **Q3 Financials**: GAAP net revenue $1.36B (flat YoY), cost of revenue $600M (-13% YoY). Operating expenses $892M (+10% YoY), benefiting from delayed expenses.
- **FY25 Outlook**: Net bookings $5.55B-$5.65B (+5% YoY). Recurrent spending growth revised to low double digits (NBA 2K), mobile growth low single digits. Operating cash flow outflow $150M, capex $140M for game tech and offices.
- **Q4 Guidance**: Net bookings $1.48B-$1.58B (+8% YoY), driven by Civilization VII, PGA Tour 2K25, and WWE 2K25. Recurrent spending +3% (NBA 2K offsetting mobile decline).

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