Take-Two Interactive Software (TTWO) Earnings Date & Reports

Key Takeaways

• Take-Two Interactive Software, Inc. reports second-quarter fiscal 2027 results after the market close on Monday, November 9, 2026.
• Management guided to net bookings of $1.62 billion to $1.67 billion, below the roughly $1.79 billion Wall Street consensus.
• Adjusted earnings per share (EPS) guidance of $0.90 to $1.00 compares with a consensus estimate near $0.97.
• The report lands just ten days before the scheduled launch of Grand Theft Auto VI (GTA VI) on November 19, 2026.
• Full-year fiscal 2027 net bookings guidance of $8.0 billion to $8.2 billion implies roughly 20% growth from fiscal 2026.
• Shares slipped about 2% after the prior report, when cautious near-term guidance outweighed a top-line beat.

Earnings Context and Why It Matters

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) enters its November 9 report at a pivotal moment. The company's fiscal 2027 is widely viewed as an inflection point, anchored by the November 19 launch of Grand Theft Auto VI (GTA VI)—one of the most anticipated releases in gaming history. In the August first-quarter report, Take-Two beat its own net bookings guidance, yet shares fell roughly 2% after management issued a second-quarter outlook that trailed analyst expectations. Because the quarter ended September 30, 2026, this print offers the final pre-launch snapshot of how recurring consumer spending, NBA 2K, and mobile titles are performing before GTA VI demand begins flowing through results.

Earnings Expectations

For its fiscal 2027 second quarter, ended September 30, 2026, Take-Two guided to net bookings—a key non-GAAP metric (a measure not defined under Generally Accepted Accounting Principles, or GAAP) that tracks the net value of products and services sold—of $1.62 billion to $1.67 billion, below the roughly $1.79 billion consensus tracked by market data providers. The company's GAAP net revenue outlook is $1.42 billion to $1.47 billion.

On the bottom line, management expects adjusted EPS of $0.90 to $1.00, near a consensus estimate of about $0.97, while GAAP EPS guidance implies a per-share loss of $0.84 to $0.75. Investors will also watch recurring consumer spending (revenue from in-game purchases and live services), which management forecast to decline about 5% year over year, and the performance of NBA 2K26, which surpassed 12 million units sold in the prior quarter. Historically, Take-Two has traded on guidance and launch catalysts as much as on reported figures—the stock fell about 2% after the August report despite a bookings beat.

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Market Reaction and Investor Sentiment

Sentiment heading into the report is cautiously optimistic but sensitive to guidance. After the August 7 release, Take-Two shares initially dipped about 2% as investors weighed the second-quarter net bookings outlook of $1.62 billion to $1.67 billion against a consensus near $1.79 billion, even as first-quarter bookings beat expectations. Analysts have largely maintained buy ratings, with firms such as Bank of America and Wells Fargo raising price targets, reflecting confidence in the GTA VI launch. Still, the stock has been volatile, and the upcoming print will test whether investors are willing to look past a seasonally lighter quarter to focus on the launch catalyst. Key risk factors include the timing of GTA VI revenue recognition, potential post-launch dynamics in GTA Online, mobile weakness, and any changes to full-year guidance.

Forward Outlook and Key Factors to Monitor

Following the November 9 report, the primary catalyst is the November 19 launch of Grand Theft Auto VI, priced at a base level of $80, with pre-orders management has described as exceptional. Investors will listen closely for any updated commentary on launch-day momentum and how early sales translate into the company's fiscal 2027 net bookings guidance of $8.0 billion to $8.2 billion.

Beyond the headline launch, watch the trajectory of recurrent consumer spending, which represents the bulk of net bookings and reflects in-game purchases and live services across franchises such as Grand Theft Auto, NBA 2K, and Zynga mobile titles. Mobile bookings have faced tough comparisons, so any stabilization there could be a notable signal.

Costs also matter. Take-Two has flagged higher marketing and research and development spending around the GTA VI launch, and an earlier $43 million impairment charge on an unannounced third-party title underscored execution risk in the broader pipeline. Margin commentary and operating cash flow—expected to exceed $1 billion for the fiscal year—will be important checkpoints.

Finally, monitor management's confidence in reaching a net cash position by fiscal year-end and any updates to the fiscal 2027 outlook. With the stock trading well off its 52-week high, how management frames the balance between near-term conservatism and GTA VI upside will likely shape the market's reaction in the weeks ahead.

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