TTWO in focus as Q1 Net Bookings clear guidance and GTA VI locks November 19 date
Grand Theft Auto VI has a confirmed launch: November 19. That date now anchors the full-year setup for Take-Two Interactive Software (NASDAQ: TTWO), which on August 7, 2026 reported fiscal first-quarter Net Bookings of…
Key takeaways
- Take-Two reported fiscal Q1 Net Bookings of $1.39 billion on August 7, 2026, landing slightly above its own guidance range.
- Grand Theft Auto VI has a confirmed launch date of November 19, which anchors Take-Two's full-year outlook.
- GAAP net loss widened to $34.1 million ($0.18 per share) from $11.9 million ($0.07) a year earlier, driven partly by a $43.4 million impairment on a discontinued unannounced third-party title.
- Take-Two reiterated fiscal year 2027 Net Bookings guidance of $8.0 to $8.2 billion and guided fiscal Q2 Net Bookings to $1.62 billion to $1.67 billion.
- CEO Strauss Zelnick tied the reiterated full-year outlook directly to the November 19 GTA VI launch.
Grand Theft Auto VI has a confirmed launch: November 19. That date now anchors the full-year setup for Take-Two Interactive Software (NASDAQ: TTWO), which on August 7, 2026 reported fiscal first-quarter Net Bookings of $1.39 billion, landing slightly above its own guidance range. The next confirmable event for the tape is the fiscal second-quarter report covering the period ending September 30, 2026.
The Q1 print
Total Net Bookings fell 3% against the $1.42 billion posted in the prior-year fiscal first quarter. Recurrent consumer spending declined 1% and held at 84% of total Net Bookings. Top contributors included NBA 2K, the Grand Theft Auto series, Toon Blast, Match Factory!, Empires & Puzzles, the Red Dead Redemption series, Words With Friends, Color Block Jam, WWE 2K, Zynga Poker, and Toy Blast.
GAAP net revenue came in at $1.53 billion, up from $1.50 billion a year earlier. Recurrent consumer spending on a GAAP basis grew 3% and also accounted for 84% of total. Non-GAAP EBITDA was $167.0 million.
The GAAP net loss widened to $34.1 million, or $0.18 per share, against $11.9 million, or $0.07 per share, in the year-ago period. Short version: cost of revenue absorbed a $43.4 million impairment on an unannounced third-party title the company chose not to continue developing. Non-operating adjustments in the quarter included a Turkish lira revaluation against the U.S. dollar, fair-value changes on certain equity investments, and a gain from the sale of marketable securities.
Full-year and second-quarter guidance
For fiscal year 2027, Take-Two reiterated Net Bookings of $8.0 to $8.2 billion. GAAP total net revenue is guided to $7.9 billion to $8.1 billion. GAAP net income is expected between $104 million and $143 million, or $0.55 to $0.75 per diluted share. Non-GAAP EBITDA guidance sits at $993 million to $1.053 billion. Net cash from operations is expected to exceed $1.0 billion, with capital expenditures of approximately $290 million.
For the fiscal second quarter ending September 30, 2026, Net Bookings guidance is $1.62 billion to $1.67 billion. GAAP total net revenue is seen at $1.42 billion to $1.47 billion, with a GAAP net loss per share of $(0.84) to $(0.75) and Non-GAAP EBITDA of $(20) million to $4 million.
What to watch
Strauss Zelnick, Chairman and CEO of Take-Two Interactive, tied the reiterated full-year outlook directly to the November 19 GTA VI launch, describing first-quarter execution as disciplined and citing positive trends across the label portfolio. Company guidance assumes a continuation of the current economic backdrop and timely delivery of the titles on the release calendar. The November 19 date is now the single most consequential number on the calendar between now and the March 31, 2027 fiscal year close.
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