❯ Take-Two’s quarterly net bookings fall 18% to $1.6 billion as NBA 2K27 misses expectations and full-year guidance holds
The quarter falls short of both Wall Street and company expectationsOn November 9, Take-Two released fiscal 2027 second-quarter results for the period ended September 30. Net bookings fell 18% year on year to $1.60 billion from $1.96 billion, below the company’s previous $1.62 billion to $1.67 billion range and the $1.65 billion market estimate cited in Bloomberg’s reporting. Take-Two uses net bookings to track digital and physical sales and other commercial activity. Net revenue recognized under accounting rules was $1.50 billion.
NBA 2K27 sells more than 4 million copies and still falls shortOn the earnings call, Take-Two said NBA 2K27 had sold more than 4 million units since its September 4 release and delivered the series’ second-highest launch bookings, below its internal forecast. Bloomberg reported that management cited the attention going to GTA VI ahead of its release as one factor. The mobile business performed as expected, while the Grand Theft Auto franchise exceeded the internal forecast for the quarter.
Recurring spending declined and more content is on the waySpending on virtual currency, add-ons, and other in-game purchases accounted for 81% of total bookings and fell 9% year on year. Take-Two expects NBA 2K27 to use themed seasons, college basketball content, and MyTeam updates to increase engagement and spending in the second half of the fiscal year. For an annual sports title, what returning players spend after launch matters alongside early unit sales.
The annual outlook still depends heavily on the holiday quarterTake-Two reiterated full-year net bookings guidance of $8.0 billion to $8.2 billion for the year ending March 2027 and projected $3.35 billion to $3.50 billion for the quarter ending December. Rockstar’s GTA VI remains scheduled for November 19 on PS5 and Xbox Series X|S, with management saying preorders exceeded its initial expectations. The third-quarter forecast represents about two-fifths of the full-year target. Holiday sales of the new game and continued spending in existing ones will help determine whether the company meets that target.
▮ SIGNALTwo major titles from the same publisher can compete for players’ time and budgets. Take-Two is counting on GTA VI’s launch and NBA 2K27’s follow-on spending to contribute at different points in the year.