Take-Two Q2 net bookings fall 18% to $1.6bn as NBA 2K27 misses forecast but GTA 6 pre-orders are "tracking far in excess" of expectations

Take-Two Interactive reported a 18% decline in net bookings for the second fiscal quarter, reaching $1.60 billion, as NBA 2K27 failed to meet expectations. However, pre-orders for Grand Theft Auto 6 significantly surpassed the company's initial projections. The publisher's overall net revenue dropped by 16% to $1.50 billion, falling short of the $1.62 billion to $1.67 billion range they had anticipated.

Despite these challenges, Take-Two maintains its full-year net bookings outlook of $8 billion to $8.2 billion, with Grand Theft Auto 6 slated for release on November 19. NBA 2K27 has sold over 4 million units since its September 4 launch, while Grand Theft Auto 5 has moved nearly 235 million units, with recurrent consumer spending and average monthly GTA+ members growing by double-digits.

Pre-orders for Grand Theft Auto 6 are tracking far above expectations, and management is projected to incur a 21% increase in operating expenses in the third quarter, primarily due to marketing costs for the game. Borderlands has surpassed 100 million units sold, while Color Block Jam, Toon Blast, and Words With Friends experienced double-digit declines and growth, respectively.

NBA 2K All-Star, launched in China in partnership with Tencent, has garnered 11 million registered users. Take-Two CEO Strauss Zelnick expressed confidence in the upcoming year, stating that pre-orders for Grand Theft Auto 6 are reaching unprecedented levels, and the company anticipates delivering a historic financial year. In August, Take-Two filed a subpoena against Microsoft, Discord, and X in relation to ongoing leaks surrounding Grand Theft Auto 6.