Updated: Nov. 6, 2025 — suitable for Google News & Discover
Take‑Two (NASDAQ: TTWO) beat revenue expectations and lifted its FY26 outlook, but delayed ‘Grand Theft Auto VI’ to Nov. 19, 2026. Here’s what moved TTWO stock today, the key numbers, guidance, and what to watch next.
Key takeaways
- ‘GTA VI’ delayed (again) to Nov. 19, 2026, shifting from a previously flagged May 2026 date; the news pressured TTWO in after‑hours trading.
- Q2 FY26 (quarter ended Sept. 30, 2025): GAAP revenue $1.77B; Net Bookings $1.96B (+33% y/y), both above guidance; GAAP EPS –$0.73. Recurrent consumer spending rose 20% and represented 73% of Net Bookings.
- Outlook raised: FY26 Net Bookings now $6.4B–$6.5B; GAAP EPS –$2.25 to –$1.90; management reiterated an expectation for record Net Bookings in FY27.
- Near‑term guide: Q3 FY26 revenue $1.57B–$1.62B, Net Bookings $1.55B–$1.60B, GAAP EPS –$0.49 to –$0.35.
What happened to TTWO stock today
Take‑Two lifted full‑year guidance but confirmed another delay for Rockstar’s ‘Grand Theft Auto VI’. Shares fell in extended trading as investors weighed the slip in the franchise’s launch against a strong quarter and higher outlook. Reuters reported the new GTA VI date and noted the stock’s after‑hours weakness; Investing.com likewise flagged shares down around 7% after the headlines hit.
The numbers: Q2 FY26 at a glance
- GAAP revenue:$1.77B (vs. $1.35B a year ago).
- Net Bookings:$1.96B (+33% y/y), above management’s $1.70–$1.75B guide.
- GAAP net loss / EPS:–$133.9M / –$0.73.
- Recurrent consumer spending (RCS):+20% y/y, 73% of Net Bookings and 72% of GAAP revenue.
- Content drivers: Top contributors included NBA 2K26/2K25, Borderlands 4, GTA Online/GTA V, Mafia: The Old Country, and Zynga titles such as Toon Blast, Match Factory!, Color Block Jam, Empires & Puzzles, and Words With Friends.
Additional color from the company’s slide deck: Q2 Net Bookings “were significantly above our guidance range” on stronger‑than‑expected NBA 2K, Mafia: The Old Country, and several mobile titles, which more than offset a softer initial launch for Borderlands 4. RCS grew 20%, with NBA 2K up 45% in the period. ir.take2games.com
Market trackers noted a revenue beat versus consensus while GAAP EPS missed modestly (–$0.73 vs. –$0.64 est., FactSet). That combination, paired with the GTA timing change, framed the immediate after‑hours reaction.
Guidance and what it signals
Full‑year FY26 (ending Mar. 31, 2026):
- Net revenue:$6.38B–$6.48B
- Net Bookings (operational metric):$6.40B–$6.50B (raised from prior $6.05B–$6.15B)
- GAAP EPS:–$2.25 to –$1.90
- Operating cash flow: ~$250M
Management also reiterated that with its “most robust pipeline” ever, it expects record Net Bookings in FY27, establishing a new baseline for the business. ir.take2games.com
Q3 FY26 (Dec. quarter) guide:GAAP revenue $1.57B–$1.62B; Net Bookings $1.55B–$1.60B; GAAP EPS –$0.49 to –$0.35. Assumptions include low double‑digit Mobile growth, mid‑single‑digit NBA 2K growth, and a planned decline in GTA Online.
The ‘GTA VI’ delay: what changed and why it matters
Rockstar and Take‑Two now target Nov. 19, 2026 for ‘Grand Theft Auto VI’, pushing from the previously communicated May 26, 2026 window. Rockstar said the extra months are needed to deliver the level of polish players expect. The date change defers the largest upcoming catalyst in the console cycle and was the clear headline for traders after the close.
Independent coverage underscored the new date and the long wait since GTA V; The Guardian also reiterated the Vice City/Leonida setting and dual‑protagonist setup (Jason and Lucia) featured in prior marketing.
How the quarter was won (without GTA VI)
Even without ‘GTA VI’ this year, basketball and mobile carried the quarter:
- NBA 2K momentum (including NBA 2K26) and in‑game monetization boosted RCS.
- Mafia: The Old Country contributed after its August launch.
- Zynga’s puzzle portfolio and live ops continued to drive engagement.
- Borderlands 4 started slower than hoped, but other titles more than made up the gap.
Pipeline and catalysts to watch
The company’s near‑ and mid‑term slate still looks busy, including items like WWE 2K Mobile for Netflix (Fall 2025), Judas, the next BioShock, and more—plus the rescheduled ‘GTA VI’. Management’s FY26 guide assumes timely delivery of planned titles, growing PS5/Xbox Series X|S installed bases, and stable FX.
Investor calendar: Take‑Two’s earnings call is scheduled for 4:30 p.m. ET today with a webcast on the IR site—often a source for extra commentary on launch timing, bookings phasing, and operating expenses.
Bottom line
For TTWO today, the story is two‑handed: a quarter that outperformed and a higher FY26 outlook, set against another ‘GTA VI’ delay. In the near term, the delay dominates the stock tape; beyond that, the raised bookings path, sticky live‑services monetization, and a thick pipeline (culminating in FY27) are the levers that can re‑rate the narrative as visibility improves.
Appendix: Q2 FY26 highlights (ended Sept. 30, 2025)
- GAAP revenue:$1.77B; Net Bookings:$1.96B (+33% y/y).
- GAAP net loss/EPS:–$133.9M / –$0.73.
- RCS:+20% y/y; 73% of Bookings.
- Top contributors:NBA 2K26/2K25, Borderlands 4, GTA Online/GTA V, Mafia: The Old Country, Toon Blast, Match Factory!, Color Block Jam, Empires & Puzzles, Words With Friends, RDR2/RDO, Toy Blast.
Disclosure: This article is for information only and is not investment advice. Markets are volatile; always do your own research and consider consulting a licensed financial advisor.
