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

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

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

What is Take-Two Interactive's gross profit margin?

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

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

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

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.

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