Take-Two Interactive closed its 2026 fiscal year with record Net Bookings of $6.72 billion, $750 million above initial estimates. The fourth quarter brought in $1.58 billion, exceeding the high end of the guidance range of $1.51–$1.56 billion. CEO Strauss Zelnick called 2027 a potential turning point: Grand Theft Auto VI is released on November 19, and operating cash flow is expected to exceed $1 billion.
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Take Two 2026 Financial Results and Revenue
Full-year Net Bookings increased 19% year-over-year. GAAP revenue was $6.65 billion, up 18%. However, the company posted a GAAP loss of $59.5 million for the fourth quarter—compared to last year’s loss of $3.7 billion, a near-win. Operating cash flow reached $624 million, compared to a forecast of $450 million.
Interestingly, recurrent consumer spending—regular player spending on in-game content—grew 17% year-over-year and accounted for 78% of all net bookings. In the fourth quarter, this share reached 82%. In other words, Take-Two makes money not so much from selling games, but from the fact that players continue to spend in them.
GTA 5 and Red Dead Redemption 2 Sales Records
Grand Theft Auto V sales surpassed 230 million copies, remaining the second-best-selling game of all time. Red Dead Redemption 2 has sold over 85 million copies. NBA 2K26 showed growth of over 30% year-over-year and became one of the largest revenue drivers. Zynga, acquired by Take-Two in 2022, delivered its best results since the acquisition: Toon Blast grew by 25%, Color Block Jam by 15%.
Take Two Revenue Forecast and GTA 6 Release Date
The fiscal 2027 forecast is $8.0–8.2 billion in Net Bookings, up approximately 20%. GTA VI is the main driver. Analysts expect the game to sell over 40 million copies in fiscal 2027. Operating cash flow is over $1 billion. The company also plans to be in a net cash position by the end of the year.
At the same time, Zelnick notes that the mobile segment may slow down in 2027—the company does not forecast a massive hit in the mobile segment, as it is difficult to predict success in this niche.
Strauss Zelnick Investment Strategy After GTA 6
After the release of GTA 6, Take-Two will have a substantial cash pile. When asked by an investor where the money will go, Zelnick identified three options:
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Organic growth – developing new games and investing in existing teams.
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Inorganic growth – acquiring other companies.
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Returning capital to shareholders – share repurchases.
The second option generated the most interest. Zelnick emphasized that Take-Two will act with discipline and acquire only studios that make games. He cited Zynga and Gearbox as successful examples. “I am proud to say that all of our acquisitions over nearly two decades have been creative and successful. For corporations, that is quite remarkable – it does not usually happen,” he said.
Acquisition of Remedy Entertainment and New Game Studios
The most discussed candidate is Remedy Entertainment. The Finnish studio is currently working on a Max Payne 1&2 remake, financed by Rockstar Games. Take-Two already has a working relationship with Remedy, a logical next step. Other possible targets include individual studios within EA or Ubisoft, but Zelnick has made it clear that there will be no deals for the sake of deals.
Take Two Stock Price Forecast and TTWO Rating
According to S&P Global, 29 analysts rate TTWO with a Strong Buy consensus rating. The average price target is $284.14, a 20% premium to the current share price. Forecasts range from $170 to $368.
TTWO Stock Price Targets From Leading Investment Banks
New Estimates from Leading Investment Banks:
FY 2027 revenue is projected to reach $8.59 billion, with EPS increasing from $4.10 to $6.87.
GTA 6 Release Delay and Revenue Drop Risks
The main risk is the GTA VI release itself. Any delay or technical issues at launch could significantly impact forecasts. Analysts note that Take-Two is unlikely to disclose pre-order data before the release. Moreover, the mobile segment, by the company’s own admission, may show a decline in recurrent consumer spending in 2027.
