Take-Two Interactive Software Inc (NASDAQ:TTWO) , the video game publisher, maintained its fiscal 2027 net bookings forecast of $8.0 billion to $8.2 billion as it prepared for the launch of Grand Theft Auto VI on November 19.
The company reported second-quarter net bookings of $1.60 billion for the three months to September 30, down 18% from $1.96 billion a year earlier.
Net revenue fell 16% to $1.50 billion from $1.77 billion, while recurrent consumer spending declined 9% and accounted for 81% of total bookings.
Bookings from full games and other products fell to $299.2 million from $532.2 million, reflecting a weaker contribution from new releases compared with the corresponding period last year.
The company's net loss narrowed to $54.0 million, or $0.29 per share, from $133.9 million, or $0.73 per share, a year earlier.
Chief executive Strauss Zelnick pointed to unprecedented pre-orders for Grand Theft Auto VI, which is scheduled for release on PlayStation 5 and Xbox Series X|S.
The group expects the launch to support what it described as a historic year, while its longer-term strategy includes new releases, geographic expansion and potential acquisitions.
For the third quarter ending December 31, Take-Two forecast net bookings of $3.35 billion to $3.50 billion and net revenue of $3.27 billion to $3.42 billion.
It expects net income of $250 million to $276 million, equivalent to diluted earnings per share of $1.30 to $1.
Shares of Take-Two gained over 7% on Tuesday.
