Take-Two Stock Jumps 5.4% as Record GTA VI Preorders Overshadow a Soft Quarter

Take-Two Interactive shares climbed 5.4% on Tuesday, a day after the publisher disclosed that preorders for Grand Theft Auto VI are running at levels the company has never seen before. Chief executive Strauss Zelnick said bookings for the title are far ahead of expectations — a message that, combined with the firm's forward guidance, drove the rebound, according to media reports.

The rally came even though the quarter itself was a miss. Net bookings for the second quarter of fiscal 2027 came in at $1.60 billion, down 18% from the prior-year period and below Take-Two's own forecast. GAAP revenue fell to $1.50 billion from $1.77 billion a year earlier, and the bottom line showed a net loss of $54.0 million, or $0.29 per share. The quarter closed on September 30.

NBA 2K27 Blamed for the Shortfall

Management pinned the revenue miss largely on NBA 2K27, which underperformed expectations. Recurring consumer spending declined 9% when Take-Two had guided for a 5% drop, a gap the company attributed to the basketball franchise. Both revenue and earnings landed short of analyst estimates, yet investors trained their attention on the GTA VI pipeline rather than the backward-looking numbers.

That focus was reinforced by the guidance confirmed on Monday. Take-Two still expects full-year fiscal 2027 net bookings of $8.0 billion to $8.2 billion, and it reiterated that Grand Theft Auto VI will launch on November 19, 2026, for PS5 and Xbox Series X|S. For the third quarter of fiscal 2027, management projects net bookings of $3.35 billion to $3.50 billion.

Media coverage described the market's reaction as a relief rally, noting that the prior session's move could be explained neither by the broader market nor by the performance of other gaming stocks.

Analysts Stay Positive, With One Trim

Wall Street's stance barely budged. UBS cut its price target to $295 from $300 on Tuesday but kept its buy rating, so the lower target did not signal any change in conviction. TD Cowen also reaffirmed its buy rating and held its $284 target following the second-quarter results. Jefferies, meanwhile, reiterated both its buy recommendation and its $300 price target, according to media reports. Of the three houses, only UBS adjusted its target, and all three remain positive on the stock.