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Take-Two Interactive has updated its financial outlook after a successful fiscal third quarter. The company, renowned for its popular titles “Grand Theft Auto” and “NBA 2K,” reported significant growth in its net bookings.
Financial Highlights and Adjusted Forecast
In the latest earnings report, Take-Two revealed net bookings of $1.76 billion. This figure marks a 28% increase compared to the previous year, surpassing Wall Street’s expectations of $1.58 billion. The company’s guidance for Q3 had initially ranged between $1.55 billion and $1.6 billion.
Looking ahead, Take-Two raised its full-year bookings forecast to between $6.65 billion and $6.7 billion. This adjustment comes from an earlier estimate of $6.4 billion to $6.5 billion, exceeding Wall Street’s anticipated $6.47 billion.
Net Loss Guidance Adjusted
Take-Two also revised its net loss expectations for the year. The new guidance indicates a loss between $369 million and $338 million, a decrease from the previous range of $414 million to $349 million.
Grand Theft Auto 6 Release Update
The anticipated release of “Grand Theft Auto 6” remains on schedule for November 19, 2026. Last quarter, the company had postponed its launch from May 2026 to the confirmed November date. The game’s last trailer was released in May 2025, generating significant excitement among fans.
Market Response to Competition
Despite these positive results, Take-Two’s shares, along with those of other gaming companies, have declined recently. The dip follows the unveiling of Google’s Project Genie, which enables users to create interactive environments through text or image prompts.
- Take-Two shares have decreased by nearly $6 billion in market capitalization since the release of Project Genie.
- Analysts, including mBank’s Piotr Poniatowski, believe the investor reaction to this new tool is disproportionate.
- Poniatowski describes Project Genie as primarily a “one-minute-long walking simulator generator.”
As Take-Two navigates this competitive landscape, its strategic adjustments come at a critical time, positioning the company to capture a larger share of the gaming market.
