TakeTwo Interactive (TTWO) Q2 2026 Earnings Report

Take-Two reported a standout second quarter of fiscal 2026, delivering net bookings of $1.96 billion—the best second quarter in company history—and signaling continued momentum across core franchises and mobile live services. Management raised the full-year net bookings guidance to $6.4–$6.5 billion, underscoring confidence in a durable growth trajectory supported by strong recurrent consumer spending (up 20% YoY to 73% of net bookings) and resilient demand for premium, narrative-driven experiences. The GTA VI release was deferred to November 19, 2026 to ensure polish, reflecting the firm’s discipline around product excellence. On the margin line, GAAP net revenue rose 31% YoY to $1.77 billion, while net income remained negative at $133.9 million as the company invests aggressively in UA, performance-based compensation, and the global footprint (capex of about $180 million; OCF around $250 million). The quarter highlighted a multi-front growth engine: NBA 2K26’s launch produced over 5 million units sold with higher selling prices, mobile studios (Peak, Rollic, Zynga) delivering record net bookings and double-digit recurrent spending growth, and continued GTA Online engagement notwithstanding a GTA VI timing shift. Looking ahead, TTWO’s roadmap features a broad pipeline (Judas, Project ETHOS, CSR 3, BioShock, Top Goal, etc.) and a continued emphasis on direct-to-consumer monetization, international expansion, and selective M&A. Investors should monitor (1) GTA VI execution and market reception post-release, (2) mobile UA efficiency and the sustainability of Zynga’s outperformance, (3) the pace of recurrent consumer spending in core franchises, and (4) regulatory and platform-distribution dynamics affecting monetization and margins.