Take-Two today released its financial results for its fourth fiscal quarter, covering the three months ended March 31, recording a net loss due to Q4 impairment charges. Revenue reached the top end of its guidance range.
The Q4 numbers
- Net revenue: $1.583 billion (up 12% year-over year)
- Net loss: $3.73 billion (compared to a $2.9 billion loss in the year-ago quarter)
- Total net bookings: $1.582 billion (up 13% year-over-year)
The full-year numbers
- Net revenue: $5.63 billion (up 5% year-over-year)
- Net loss: $4.48 billion (compared to a $3.74 billion loss in the last fiscal year)
- Total net bookings: $5.65 billion (up 6% year-over-year)
The highlights
Grand Theft Auto 6’s recent delay – sending it into FY27 – came up in the results. In its earnings, Take-Two stated it believes affording Rockstar additional time for such a “groundbreaking project” is a “worthy investment.”
“The ambition and complexity of Grand Theft Auto 6 is greater than any previous Rockstar title, and the team is poised to release another astonishing entertainment experience that will exceed players’ expectations,” the company said.
Recurrent consumer spending exceeded expectations, growing 7% for the fiscal year and 14% for Q4. This performance was attributed to NBA 2K, which grew in high teens for the year, with mobile and GTA Online growing in single digits.
Grand Theft Auto 5 has now sold 215 million units, with recurrent spending growing 5% year-over-year. Notably, Red Dead Redemption 2 net bookings grew 23% year-over-year, outperforming expectations.
2K had a significant Q4, with NBA 2K25 having almost 10 million units sold-in. Recurring spend is up for all titles year-over-year across 2K’s sports portfolio, including WWE 2K and PGA 2K25.
Sid Meier’s Civilization VII also launched in Q4, currently sitting at mixed user reviews on Steam. The company noted that efforts to update the game are ongoing, as well as touting upcoming releases on Meta Quest 3 and Nintendo Switch 2.
Zynga outperformed, with Take-Two praising the company as an integral part of the company.
With GTA 6 moving back a year, the company expects to increase net bookings by 5% in FY26 to a guidance range of $5.9 billion to $6 billion.
Highlights in the next year include September 12’s Borderlands 4, which is one of the most wishlisted games on Steam, and August 8’s Mafia: The Old Country. The company notes that pre-orders for Mafia – which is priced at $50/£45 – are off to a “strong start.”
They’ll be joined by new entries in the NBA 2K and WWE 2K series. 13 titles in total will launch in FY26.
It notes that approximately 38 titles will release between its fiscal years of 2026 and 2028, a pipeline the company notes it’s “extremely optimistic” about.