Take-Two lifts revenue outlook but holds bookings forecast before GTA VI launch
Take-Two raised its fiscal 2027 revenue range to $7.98 billion to $8.18 billion, kept bookings guidance unchanged and confirmed GTA VI for November 19.
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Take-Two Interactive raised its revenue forecast for the fiscal year ending March 2027 on Monday while keeping its net bookings outlook unchanged, ten days before the release of Grand Theft Auto VI.
The numbers
In its second quarter results, Take-Two said it now expects GAAP net revenue of $7.98 billion to $8.18 billion for the year. Reuters reported that this was up from a previous range of $7.90 billion to $8.10 billion. The company reiterated full year net bookings guidance of $8.0 billion to $8.2 billion.
For the quarter to September 30, net bookings fell 18% to $1.60 billion from $1.96 billion a year earlier, and GAAP net revenue was $1.50 billion against $1.77 billion. Recurrent consumer spending, which includes in game purchases, fell 9% and made up 81% of net bookings. NBA 2K and the Grand Theft Auto series were the largest contributors.
For the current quarter, which includes the launch, Take-Two forecast net bookings of $3.35 billion to $3.50 billion and diluted earnings per share of $1.30 to $1.44.
GTA VI on November 19
Take-Two confirmed that GTA VI will launch on PlayStation 5 and Xbox Series X|S on November 19. Chief executive Strauss Zelnick said preorders were "continuing to reach unprecedented levels" and that the company expects a historic year.
Reuters cited Sensor Tower data showing about 7.71 million digital preorders worldwide as of November 3. That figure is a third party estimate rather than a company disclosure. The shares rose nearly 7% in extended trading after the release, Reuters reported.
Why the forecasts differ
Revenue and net bookings measure different things. Net bookings track the value of sales made in a period, while revenue can be deferred and recognised over time, so the two can move separately. By raising revenue guidance but leaving bookings alone, Take-Two signalled confidence without baking more of the launch into its sales forecast before the game is in players' hands.
The real test comes with the December quarter results, which will show how GTA VI sold in its first weeks.
This article is news only and is not investment advice.
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