Strong Net Sales, but Continued Loss: Take-Two Interactive Prepares for Record Releases

Take-Two Interactive reports strong net bookings and a narrowing of its loss to $365.5 million (€340 million). Once again, the Grand Theft Auto and Borderlands franchises are driving this performance. GTA 6 is still scheduled for release in autumn 2025, with Borderlands 4 and Mafia: The Old Country following by the end of March 2026.

Take-Two Interactive has reported results for the second quarter of its fiscal year 2025 (July to September 2024). Total net bookings increased two per cent to $1.47 billion (€1.37 billion). Net bookings from recurring consumer spending grew six per cent and accounted for 81 per cent of total net bookings. The largest contributors to net bookings were NBA 2K25 and NBA 2K24, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Red Dead Redemption 2 and Red Dead Online, Toy Blast, Match Factory!, Empires & Puzzles, Words With Friends and the hyper-casual mobile games portfolio. GAAP net revenue increased 4 per cent to $1.35 billion (€1.25 billion). GAAP net loss was $365.5 million (€340 million), or $2.08 per share, compared to a loss of $543.6 million (~€508 million) in the same quarter a year ago.

"I am pleased to report that we delivered strong second quarter results. Our Net Bookings of $1.47 billion were at the top of our guidance range, driven by the continued success of the Grand Theft Auto and Borderlands franchises, and our operating results surpassed our plans, largely due to a shift in the timing of marketing expenses within the year," said Strauss Zelnick, Chairman and CEO of Take-Two Interactive.

Grand Theft Auto V has sold more than 205 million units worldwide since its launch in 2013. "Momentum also continued within GTA+, as Rockstar grew its membership by 35% over last year, and added the classic title, Bully, to the library of available games," said Zelnick. Red Dead Redemption 2 has sold more than 67 million units to date. Six years after its release, the game remains in the top ten in global unit sales, according to GSD data and publisher Take-Two. NBA 2K25 has sold nearly 4.5 million units. Zelnick: "Compared to NBA 2K24 for the same period last year, NBA 2K25 delivered meaningful double-digit growth in average revenue per user and 40% growth in average games per user." The back-catalogue also outperformed, led by Borderlands. The CEO comments: "Now that Gearbox has officially joined the 2K and Take-Two family, we are eager to capitalize on the many potential growth opportunities for Borderlands, Tiny Tina's Wonderlands, and other Gearbox titles." In addition, Take-Two Interactive has sold its indie publishing label Private Division (GamesMarkt reported).

Red Dead Redemption and Undead Nightmare were released on PC on 29 October 2024. Civilization VII (11 February 2025) and WWE 2K25 are scheduled for release before the end of this fiscal year. Grand Theft Auto VI is still on track for a fall release in 2025. Borderlands 4 and Mafia: The Old Country, both revealed at gamescom 2024, are scheduled for release in fiscal year 2026, by the end of March 2026 at the latest. Judas from Ghost Story Games does not yet have a release window. Accordingly, the CEO is positive about the future: "Our execution has been consistent, and our teams continue to make great progress advancing our development pipeline. Accordingly, we are reiterating our fiscal year 2025 Net Bookings guidance range of $5.55 to $5.65 billion [€5.19 to €5.28 billion], and we are confident that we will achieve sequential increases and record levels of Net Bookings in fiscal years 2026 and 2027. As we look ahead, we believe that Take-Two remains exceedingly well-positioned for the long-term. Our vision is clear, our talent is unparalleled, and we have one of the strongest portfolios of owned intellectual property in our industry. With many exciting new titles coming in Fiscal 2026 – including Grand Theft Auto VI in the fall, Borderlands 4 and Mafia: The Old Country – we expect to create long-term value for our shareholders."

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