Take-Two Interactive Software shares moved higher in premarket trading Friday after the company confirmed the release date for the highly anticipated Grand Theft Auto VI, easing what analysts called the primary concern heading into the earnings report. The stock gained roughly 7% in after-hours trading Thursday, following the announcement that the next installment in the blockbuster franchise will launch on Nov. 19.
The confirmation came alongside Take-Two's fiscal fourth-quarter results, which showed net bookings of $1.58 billion, exceeding the company's own outlook. GAAP revenue reached $1.68 billion, while the net loss narrowed to $59.5 million, or 32 cents per share, compared to a loss of $3.73 billion in the same period last year. Full-year 2026 net bookings totaled $6.72 billion.
Despite the positive quarterly performance, Take-Two's guidance for fiscal 2027 disappointed analysts. The company forecast bookings in the range of $8.0 billion to $8.2 billion, well below the consensus estimate of $9.10 billion from LSEG. For the first quarter, Take-Two expects bookings between $1.32 billion and $1.37 billion, missing the $1.51 billion analyst consensus.
CEO Strauss Zelnick emphasized that fiscal 2027 will be a transformative year, calling it an inflection point for the company. In prepared remarks, Zelnick stated that fiscal 2027 is poised to be a breakout year, with Rockstar Games set to begin marketing GTA VI this summer. He added that the company expects to establish new record levels of operating performance.
Wedbush Securities analyst Alicia Reese noted that the GTA VI launch date was the primary focus heading into the earnings report, given Rockstar's history of delays. She suggested that the after-hours move reflected investors' relief that the launch timing risk has been resolved, even though the bookings range came in below consensus.
Take-Two's older titles continued to perform well. Grand Theft Auto V has now sold nearly 230 million copies since its release in 2013, while Red Dead Redemption 2 has surpassed 85 million units. NBA 2K26 has cleared 10 million units. Recurrent consumer spending, which includes in-game purchases and virtual currency, rose 7% in the quarter and accounted for 82% of net bookings.
CFO Lainie Goldstein attributed the better-than-expected fourth-quarter results to stronger demand for the Grand Theft Auto series, select mobile games, and Red Dead Redemption. The company's outlook for fiscal 2027 reflects the anticipated impact of GTA VI, which is expected to drive significant sales, cash flow, and profit growth.
Competition in the gaming space remains intense. Electronic Arts is Take-Two's primary U.S. peer, while Microsoft, following its acquisition of Activision Blizzard, now controls major franchises like Call of Duty. However, analysts believe GTA VI's massive franchise size and Rockstar's track record will ensure a significant market impact.
U.S. stocks posted modest gains Thursday, with the S&P 500 rising 0.2% and the Nasdaq Composite edging up 0.1%. Take-Two's next major event is scheduled for May 27, when Zelnick will speak at TD Cowen's Technology, Media & Telecom conference. Investors will be looking for updates on GTA VI marketing, pre-order numbers, and any potential changes to the November launch date.
