Take-Two Lowers Fiscal 2026 Forecast Following GTA VI Delay, Reports Strong Q4 Results

Take-Two Interactive, the publisher behind blockbuster franchises like Grand Theft Auto and NBA 2K, has revised its financial outlook for fiscal year 2026 after officially pushing back the release of Grand Theft Auto VI to May 2026—landing it in fiscal 2027.

The company now projects net bookings of $5.9 billion to $6.0 billion, falling short of Wall Street expectations, which were closer to $6.46 billion, according to their latest earnings report.

The adjustment directly reflects the anticipated revenue shift from the delayed launch of GTA VI, which is now set to arrive on May 26, 2026, for PlayStation 5 and Xbox Series X|S.

Short-Term Forecast Dampened, But Q4 Delivers a Beat

Despite the tempered forecast, Take-Two closed fiscal Q4 2025 (ended March 31) on a strong note:

• Revenue reached $1.58 billion, slightly above analyst expectations of $1.57 billion—a 13% year-over-year increase.

• Earnings per share (excluding non-recurring items) came in at $1.09, edging past the Zacks Consensus Estimate of $1.08, and significantly higher than $0.31 per share a year earlier.

• However, a major impairment charge of $3.5 billion related to "updating long-term expectations" resulted in a GAAP net loss of $3.73 billion, or $21.08 per share.

What’s Driving Take-Two’s Results?

Key contributors to the company’s performance this quarter included:

• NBA 2K25, GTA Online, and GTA V

• Red Dead Redemption 2 and Red Dead Online

• Civilization VII, Toon Blast, and other mobile titles like Match Factory and Empires & Puzzles

• WWE 2K25 and its hyper-casual mobile portfolio

Looking Ahead: Borderlands, Mafia, and GTA VI

While GTA VI remains the crown jewel, Take-Two isn’t banking solely on its success. Two major titles are slated to carry the load in fiscal 2026:

• Mafia: The Old Country – Launching August 8, 2025

• Borderlands 4 – Arriving September 12, 2025

  (Both titles will release for PS5, Xbox Series X|S, and PC.)

“As we bring our exciting lineup to market, including Grand Theft Auto VI in Fiscal 2027, we expect to achieve record levels of Net Bookings that will establish a new baseline for our business and set us on a path of enhanced profitability,” the company stated.