Take-Two Interactive Software, Inc. (NASDAQ: TTWO) shares rose 2.7% in premarket trading Tuesday after the company reported quarterly results below analysts’ expectations, with Grand Theft Auto VI scheduled to launch in 10 days.

Net bookings for the quarter ended Sept. 30 fell 18% year over year to $1.6 billion, compared with Wall Street’s estimate of $1.62 billion. Jefferies said the result was $20 million below the low end of Take-Two’s guidance. The company attributed part of the shortfall to NBA 2K27, which launched Sept. 4 and generated lower bookings than planned.

Take-Two reported a net loss of 29 cents per share, narrower than the 86-cent loss analysts had expected. Revenue was $1.50 billion, down 15% year over year, while recurrent consumer spending declined 9%.

TAKE-TWO $TTWO Q2’27 EARNINGS HIGHLIGHTS 🔹 Net Bookings: $1.60B (Est. $1.66B) 🔴; -18% YoY 🔹 Revenue: $1.50B; -15% YoY 🔹 EPS: -$0.29 (Est. -$0.86) 🟢 🔹 Recurrent Consumer Spending: -9% YoY Affirms FY27 Guide: 🔹 Net Bookings: $8.0B-$8.2B (Est. $8.57B) 🔴 🔹 Revenue:… pic.twitter.com/1sYlSwkWvj — Wall St Engine (@wallstengine) November 9, 2026

Fiscal 2027 Outlook

Take-Two maintained its fiscal 2027 net bookings outlook at $8.0 billion to $8.2 billion, below analysts’ forecast of $8.62 billion. For the fiscal third quarter, the company expects net bookings of $3.35 billion to $3.5 billion, roughly in line with estimates. That guided range covers the period containing the Nov. 19 launch and implies net bookings more than double the $1.6 billion just reported. Whether launch sales close the gap between the company’s full-year range and Wall Street’s higher forecast will become clearer once fiscal third-quarter results are in.

Mobile bookings fell 14% year over year, reflecting difficult comparisons with Color Block Jam and Match Factory.

Jefferies analyst James Heaney described the results as “not thesis-changing.” The firm retained its Buy rating and $300 price target. Take-Two shares are down 19% so far this year, while revenue has increased 15% over the past 12 months.

GTA VI Preorders

Grand Theft Auto VI is scheduled to launch Nov. 19, more than 13 years after the release of its predecessor. Grand Theft Auto V remains one of the best-selling games ever made.

Sensor Tower reported that GTA VI had 7.71 million preorders, representing $751 million in sales. Grand Theft Auto V generated about $800 million during its first 24 hours, placing the new title near that level before its release.

Take-Two CEO Strauss Zelnick said preorders continue “to reach unprecedented levels.” In comments to Barron’s, he said they were trending “well above our expectations.” Zelnick added, “We know that the numbers will speak for themselves soon enough.”

Analysts forecast 29% revenue growth for fiscal 2027, driven largely by GTA VI. InvestingPro data shows 17 analyst ratings with an average assessment of Strong Buy and indicates that the stock trades above its Fair Value. Management maintained its full-year guidance, citing strong preorders. With the fiscal year’s growth expectations resting largely on a single release, GTA VI’s first post-launch sales figures will offer the earliest check on both the affirmed guidance and analysts’ growth forecasts.

GTA VI launches Nov. 19.