Take-Two Dodges “Wasted” As GTA VI Keeps Its Release Date

Take-Two did not clear every earnings mission, but the main objective stayed intact — GTA VI is still on the calendar. The company reported fiscal fourth-quarter revenue of $1.68 billion and net bookings of $1.58 billion, while its fiscal 2027 net bookings forecast of $8.0 billion to $8.2 billion came in below Wall Street’s estimate of about $9.1 billion. Shares rose in premarket trading Friday after gaining after hours Thursday, as investors looked past the weaker forecast and took comfort in the update they wanted most — GTA VI was still set for November 19.

The latest quarter showed Take-Two is not just holed up in the safehouse until November. Net bookings were flat from a year earlier at $1.58 billion, but the business still showed plenty of live-service fuel. Recurrent consumer spending rose 12% and accounted for 81% of GAAP revenue, while related net bookings grew 7% and made up 82% of total net bookings, helped by titles including NBA 2K26, NBA 2K25, Grand Theft Auto Online, and Grand Theft Auto V. Take-Two also narrowed its net loss to $59.5 million, or $0.32 per share, from a much larger year-earlier loss tied mainly to prior impairment charges. That gave investors a business still collecting cash on side missions, even if The Big Score is still waiting on the map.

The guidance was where the mission got messier. Take-Two’s first-quarter bookings forecast of $1.32 billion to $1.37 billion came in below expectations, and its full-year bookings outlook also landed short. The guide was light, but GTA VI kept the wanted level high enough for investors to stay in pursuit. In a normal earnings report, that kind of outlook might have sent the stock speeding into a wall. This time, investors seemed willing to look past the dents because the main mission marker stayed right where they wanted it — November 19.

That is the strange gravity of Take-Two right now. The company has a full portfolio, a recurring-spending base, and a mobile business to manage, but the stock is trading like a countdown clock with a ticker symbol attached. Take-Two gave investors the confirmation they were looking for, keeping the report from getting “Wasted” even with a guidance miss rattling around like a busted taillight. As long as that date holds, Wall Street appears willing to ride shotgun through some forecast traffic.

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