Take-Two Raises Full-Year Guidance After NBA 2K26 Boosts Q3 Results

Take‑Two’s fiscal Q3 delivered a clearer picture of momentum: total net bookings hit $1.76 billion, up 28% year-over-year, and management raised full-year net bookings guidance to $6.65 billion–$6.7 billion. The company reported GAAP net revenue in the range of $1.69 billion to $1.70 billion, a roughly 25% increase, and narrowed its net loss to $92.9 million compared with a $125.2 million loss a year earlier.

The quarter beat Wall Street expectations on multiple fronts. Analysts had modeled revenue near $1.59 billion and a loss per share near $0.83, while Take‑Two itself had forecast net revenue between $1.57 billion and $1.62 billion; instead the company delivered the $1.69–$1.70 billion result and a net loss of $0.50 per share. Operating metrics showed cost of revenue rose to $754 million and GAAP operating expenses were $984 million, while on a management basis operating expenses increased 13% year-over-year.

Franchise performance underpinned the beat. NBA 2K26 sold approximately 8 million units to date and drove a 30% increase in recurrent consumer spending, daily active users, and MyCareer daily active users year-over-year, with management saying, "NBA 2K26 delivered another stellar quarter" and that the franchise is "on track to generate the highest level of annual net bookings and recurrent consumer spending in franchise history." Grand Theft Auto also outpaced forecasts, with GTA Online recurrent consumer spending up 27% led by the "A Safe House in the Hills" update.

Mobile and live services rounded out the quarter. Mobile grew about 19% in Q3, and Take‑Two listed Toon Blast, Match Factory, Empires & Puzzles, Color Block Jam, and Words With Friends among the largest expected contributors to net bookings going forward. Management raised its recurrent consumer spending outlook, now expecting RCS to grow approximately 17% and to represent 78% of net bookings for the fiscal year, up from a prior forecast of 11%.

Management and analysts flagged cash-flow implications and FY27 upside. Fintool reported that operating cash flow guidance nearly doubled to roughly $450 million and that the company called out expectations for "record Net Bookings" in fiscal 2027 tied to the Grand Theft Auto pipeline. GamesIndustry captured management saying, "With ongoing momentum across many of our businesses, and the highly anticipated launch of Grand Theft Auto 6 on November 19, 2026, we continue to project record levels of net bookings in fiscal 2027, which we believe will establish a new financial baseline for our business, set us on a path to enhanced profitability, and provide further balance sheet strength and flexibility."

Market reaction was uneven but positive after hours. The stock had fallen about 17% in the prior month amid sector AI concerns and a January 30 drop after Google's Project Genie announcement; after earnings shares rallied toward the $220 area in after-hours trading. Institutional moves added another layer of investor interest: Saudi Arabia’s Public Investment Fund transferred an 11.4 million-share stake, roughly $2.4 billion, to Savvy Games Group on February 17, a restructuring that market watchers interpreted as reinforcing sovereign backing for GTA VI.

Taken together, the quarter showed broad-based outperformance from NBA 2K, GTA Online, and mobile, the company raised FY net bookings to $6.65–$6.7 billion, and management pointed to a November 19, 2026 GTA VI launch as the catalyst expected to drive record net bookings in fiscal 2027.