Take-Two Interactive Software Q3 Earnings: Revenue Miss, EPS Beat, Bookings Up 3%, Grand Theft Auto VI On Track For Fall Release (CORRECTED)

Editor’s Note: This article has been updated to reflect the correct name of the Grand Theft Auto sequel.

Take-Two Interactive Software Inc TTWO reported third-quarter financial results after the market close on Thursday. Here’s a look at the key details from the quarter.

Q3 Earnings: Take-Two reported third-quarter revenue of $1.37 billion, missing analyst estimates of $1.39 billion, according to Benzinga Pro. The video game publisher reported third-quarter adjusted earnings of 72 cents per share, beating analyst estimates of 57 cents per share.

Total net bookings grew 3% year-over-year. Net Bookings from recurrent consumer spending grew 9% year-over-year and accounted for 79% of total Net Bookings. Take-Two noted that net bookings growth was driven by “significant outperformance” in NBA 2K, which helped offset moderation experienced in several of the company’s mobile franchises. 

The company ended the quarter with $1.21 billion in cash and cash equivalents.

“We achieved solid results during the holiday season,” said Strauss Zelnick, chairman and CEO of Take-Two Interactive.

“Looking ahead, this calendar year is shaping up to be one of the strongest ever for Take-Two, as we plan to launch Sid Meier’s Civilization VII on Feb. 11, Mafia: The Old Country in the Summer, Grand Theft Auto VI in the Fall, and Borderlands 4.”

Outlook: Take-Two expects fourth-quarter revenue to be between $1.52 billion and $1.62 billion versus estimates of $1.54 billion. The company anticipates anywhere from a loss of 20 cents per share to positive earnings of 13 cents per share in the fourth quarter versus estimates of 6 cents per share.

Take-Two sees full-year revenue in the range of $5.57 billion to $5.67 billion versus estimates of $5.62 billion. The company anticipates a full-year loss of $4.17 to $4.50 per share versus estimates for a loss of $4.47 per share, per Benzinga Pro.

“As we continue to deliver hits, we remain highly confident that we will achieve sequential increases in, and record levels of, Net Bookings in Fiscal 2026 and 2027,” Zelnick said.

Investors appear to be responding favorably to the commentary on the timing of Grand Theft Auto VI’s highly anticipated release. The company also said it will release PGA Tour 2K25 on Feb. 28 and WWE 2K25 on March 14.

TTWO Price Action: Take-Two shares were up 5.91% after hours, trading at $193.90 at the time of publication Thursday, according to Benzinga Pro.

Photo: Shutterstock.