Take-Two Interactive Software, Inc.

Q2 FY26Entertainment

Take-Two Interactive Software, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹218

Market cap₹40.5K Cr

P/E21.9

Published29 May 2026

What the Q2 FY26 call signalled

4 of 4 strong

RevenueRank 2

MarginRank 2

CapexYes

Order bookYes

Not discussed on this call: fundraise.

The short version

- Fiscal 2027 net bookings expected between $8 billion and $8.2 billion, approximately 20% growth over fiscal 2026, primarily due to Grand Theft Auto VI launch and portfolio success. - Fiscal 2027 net bookings are projected at $8.0 to $8.2 billion, about 20% growth over fiscal 2026, driven by GTA VI launch and broad portfolio execution (Page 4).

From Take-Two Interactive Software, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Rank 2

Fiscal 2027 net bookings expected between $8 billion and $8.2 billion, approximately 20% growth over fiscal 2026, primarily due to Grand Theft Auto VI launch and portfolio success.
Recurrent consumer spending projected to be flat to fiscal 2026, with NBA 2K up high single-digits, Grand Theft Auto series up, and mobile down due to moderation in mature titles.
Operating cash flow forecasted to exceed $1 billion; company expects to be in net cash position by fiscal year-end.
Portfolio pipeline strong, with 29 titles planned through fiscal 2029, including 3 core new IPs and multiple sequels/remakes.
Mobile segment growth expected more moderate; no large new hits assumed for upcoming launches.
NBA 2K recorded record fiscal 2026 results and continues confident in sustainable recurrent consumer spending growth in fiscal 2027.
Grand Theft Auto Online and Red Dead Redemption remain resilient with strong unit sales and engagement.
Focus on scalable growth, operational efficiency, and investment in technology to drive long-term shareholder returns.

Profitability & Margins

Fiscal 2027 net bookings are projected at $8.0 to $8.2 billion, about 20% growth over fiscal 2026, driven by GTA VI launch and broad portfolio execution (Page 4).
Operating cash flow expected to exceed $1 billion in fiscal 2027, marking a new benchmark for ongoing growth (Pages 3-4).
GAAP net revenue anticipated between $7.9 billion and $8.1 billion; cost of revenue around $3.5 to $3.62 billion (Page 4).
Operating expenses forecasted to grow ~8% YoY, driven by marketing for GTA VI and new mobile titles, yet still reflecting strong operating leverage (Page 4).
Management expects sustained higher operating performance well into the future, supported by a robust pipeline and operational efficiencies (Page 4).
Recurrent consumer spending is forecasted to be flat to fiscal 2026 but with strong growth in NBA 2K and GTA series, offset by declines in some mobile titles (Page 4).
The company expects to be in a net cash position by fiscal year-end, providing financial flexibility (Page 4).

See what Take-Two Interactive Software, Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes

Fiscal 2027 capital expenditures planned at approximately $200 million for game technology and office build-out.
The company focuses on three uses of capital: supporting organic growth, selective accretive inorganic growth, and returning capital to shareholders via opportunistic share buybacks.
Recent acquisitions include Zynga (2022) and Gearbox, both accretive and successful.
The balance sheet and P&L allow continued investment to position for growth.
The company expects to generate over $1 billion in operating cash flow in fiscal 2027.
Plans to be in a net cash position by the end of fiscal 2027, enabling future strategic investments.
Disciplined approach to M&A, with interest in accretive acquisitions when strategic.
Investment in new technology to unlock creative capabilities and operational efficiencies.

Fundraising & Capital Structure

No explicit mention of new fundraising through debt or equity in the provided text.
The company emphasizes generating over $1 billion in operating cash flow in fiscal 2027.
They expect to be in a net cash position by the end of the fiscal year.
Capital uses prioritized for organic growth, selective accretive acquisitions, and opportunistic share buybacks.
No plans stated for issuing new debt or equity to raise capital.
Balance sheet and strong cash position allow measured creative risks, acquisitions, and technology investments without new fundraising noted.

See what Take-Two Interactive Software, Inc. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

Fiscal 2027 net bookings projected to range from $8 billion to $8.2 billion, reflecting ~20% growth over fiscal 2026.
Growth mainly driven by the launch of Grand Theft Auto VI (November 19) and strong execution across the portfolio.
Largest contributors expected: Grand Theft Auto series, NBA 2K, Toon Blast, Match Factory!, Empires & Puzzles, Red Dead Redemption series, Words With Friends, Color Block Jam, Zynga Poker.
Recurrent consumer spending expected to be flat vs. fiscal 2026, with NBA 2K up high single-digits, Grand Theft Auto series up, and mobile down due to maturing Zynga titles.
First quarter net bookings guidance: $1.32 billion to $1.37 billion, down vs. prior year quarter ($1.42B).
Pipeline includes 29 titles through fiscal 2029, including 6 titles in fiscal 2027 with mobile, sports, and platform extensions.

How does Take-Two Interactive Software, Inc. rank vs peers in Entertainment?

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Frequently Asked Questions

What were Take-Two Interactive Software, Inc. Q2 FY26 results?

What is Take-Two Interactive Software, Inc. share price analysis?

Take-Two Interactive Software, Inc. currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 21.9 with a market cap of $40,451. Investors should review the full earnings analysis for detailed insights.

Is Take-Two Interactive Software, Inc. planning capital expenditure?

- Fiscal 2027 capital expenditures planned at approximately $200 million for game technology and office build-out.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.