Take-Two is going through interesting times, bad finances but game of the decade launching soon.
Net bookings is at 1.60 billion dollars, GAAP net revenue was 1.50 billion, down from 1.77 billion. Net loss slimmed to 54 million from 133.9 million.
Consumer spending dropped 9% against guidance for a 5% decline, accounting for 81% of net bookings. Which is expected.
The main culprit is NBA 2K27. Even though it sold over four million units since 4 September and delivered the second-highest net bookings launch in the series’ history, and still landed under forecast. Zelnick stated the release window was unusually busy, with anticipation for GTA 6 likely absorbing attention.
What next quarter looks like
Third-quarter net bookings guidance will be 3.35 to 3.50 billion dollars, against 1.76 billion in the same quarter last year.
Roughly double, from one release and that release is GTA.
Operating expenses will increase as well around 21% year on year in the quarter, almost entirely GTA 6 marketing.
The guidance that didn’t move
Zelnick stated that pre-orders are “tracking far in excess of our initial expectations” and “the level of pre-orders generated is extraordinary.” Sensor Tower estimates it approaching eight million units.
Take-Two reiterated full-year net bookings of 8.0 to 8.2 billion, with Zelnick telling analysts the company avoids claiming success before it happens.
Full-year GAAP net revenue guidance did rise slightly, to between 7.98 and 8.18 billion.
Everything else
- GTA 5 still sold nearly 235 million units, with recurrent spending and average monthly GTA+ members both up double digits
- Borderlands has passed 100 million units lifetime
- Toon Blast up 4%, Words With Friends up 6% on a Wheel of Fortune collaboration
- Color Block Jam down double digits against last year’s peak, as planned
- NBA 2K All-Star, launched in China with Tencent, has passed 11 million registered users
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