Take-Two Interactive Software (TTWO) Q2 FY2026 earnings: revenue $1.8 billion, up 31.1% on the year

Take-Two Interactive Software, Inc. (TTWO) reported revenue of $1.8 billion for Q2 FY2026, the quarter ended 30 September 2025, up 31.1% on the same quarter a year earlier. Net income was -$134 million, and diluted earnings per share $-0.73. The figures are the company's own, from the 10-Q it filed with the SEC on 7 November 2025.

Revenue

$1.8 billion

+31.1% on the year · +18.0% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

-5.5%

-22.0% a year earlier

Q3 FY2024Q2 FY2026

Net income

-$134 million

Q3 FY2024Q2 FY2026

Diluted EPS

-$0.73

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 11 raised, 1 lowered, 10 new, 2 kept.

Net Bookings grew 33%: Total Net Bookings rose to $1.96 billion, from $1.47 billion in the same quarter last year. Management said the figure was above its guidance range.
Recurrent spending grew 20%: Net Bookings from recurrent consumer spending rose 20% and made up 73% of the total, against 83% in the prior release.
Net loss narrowed to $133.9 million: GAAP net loss was $133.9 million, or $0.73 per share, against $365.5 million, or $2.08 per share, a year earlier. EBITDA was $116.7 million, against a loss of $75.5 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	1,774	1,504	1,353	+18.0%	+31.1%
Cost of revenue	793	559	625	+42.0%	+26.9%
Gross profit	980	945	728	+3.8%	+34.7%
Gross margin	55.3%	62.8%	53.8%
Operating income	-98.0	21.6	-297
Operating margin	-5.5%	1.4%	-22.0%
Interest expense	35.4	38.9	40.8	-9.0%	-13.2%
Pre-tax income	-116	-13.8	-324
Income tax	18.4	-1.9	41.2		-55.3%
Net income	-134	-11.9	-366
Net margin	-7.5%	-0.8%	-27.0%
Diluted EPS	-$0.73	-$0.07	-$2.08

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	128	-44.7	-128
Capital expenditure	31.9	25.1	36.8	+27.1%	-13.3%
Free cash flow	96.5	-69.8	-165
Free cash flow margin	5.4%	-4.6%	-12.2%
Cash from investing	-277	-36.8	-33.3
Cash from financing	-0.3	618	0.5
Depreciation and amortisation	48.8	50.4	47.3	-3.2%	+3.2%
Share-based compensation	95.9	40.7	86.2	+135.6%	+11.3%
Diluted shares, weighted	185m	181m	175m	+2.1%	+5.2%
Shares outstanding at period end	185m	184m	176m	+0.2%	+5.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	3,432	3,481	5,798	-1.4%	-40.8%
Debt	3,081	3,081	3,676	+0.0%	-16.2%
Operating lease liabilities	379	380	398	-0.5%	-4.9%
Other liabilities	3,188	2,742	3,202	+16.3%	-0.4%
Total liabilities and equity	10,080	9,684	13,075	+4.1%	-22.9%
Fixed assets	424	437	434	-2.9%	-2.2%
Goodwill	1,064	1,066	4,649	-0.1%	-77.1%
Intangible assets	2,015	2,167	2,896	-7.0%	-30.4%
Investments	246	10.1	3.5	+2,339.6%	+6,940.0%
Cash and equivalents	1,869	2,025	876	-7.7%	+113.3%
Receivables	1,165	658	859	+77.2%	+35.7%
Other assets	3,296	3,322	3,358	-0.8%	-1.8%
Total assets	10,080	9,684	13,075	+4.1%	-22.9%

Questions

What was Take-Two Interactive Software's revenue in Q2 FY2026?

Take-Two Interactive Software (TTWO) reported revenue of $1.8 billion for Q2 FY2026, the quarter ended 30 September 2025, up 31.1% on the same quarter a year earlier.

How much did Take-Two Interactive Software earn in Q2 FY2026?

Net loss for Q2 FY2026 was $134 million, and the diluted loss per share $0.73.

When did Take-Two Interactive Software report Q2 FY2026 results?

Take-Two Interactive Software filed its 10-Q for the quarter ended 30 September 2025 with the SEC on 7 November 2025.

Quarterly results, the last 20 quarters

	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	858	903	930	1,102	1,394	1,408	1,446	1,285	1,299	1,366	1,399	1,338	1,353	1,360	1,582	1,504	1,774	1,699	1,680	1,534
Cost of revenue	457	350	399	436	714	692	1,223	606	884	688	930	567	625	600	779	559	793	754	741	651
Gross profit	402	553	531	667	680	716	223	679	415	678	469	771	728	760	803	945	980	946	939	882
Gross margin	47%	61%	57%	60%	49%	51%	15%	53%	32%	50%	34%	58%	54%	56%	51%	63%	55%	56%	56%	58%
Operating income	20.1	154	129	-37.4	-252	-173	-702	-204	-544	-130	-2,713	-185	-297	-132	-3,777	21.6	-98.0	-38.7	10.9	-35.5
Operating margin	2%	17%	14%	-3%	-18%	-12%	-49%	-16%	-42%	-9%	-194%	-14%	-22%	-10%	-239%	1%	-6%	-2%	1%	-2%
Interest expense	n/a	n/a	n/a	20.5	28.9	29.5	29.7	34.5	31.3	31.1	35.1	34.3	40.8	41.0	40.8	38.9	35.4	35.7	n/a	30.4
Pre-tax income	19.9	152	122	-106	-301	-200	-731	-229	-577	-152	-2,745	-212	-324	-153	-3,802	-13.8	-116	-55.8	-12.7	-49.3
Tax rate	49%	5%	9%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	10.2	144	111	-104	-257	-153	-610	-206	-544	-91.6	-2,903	-262	-366	-125	-3,726	-11.9	-134	-92.9	-59.5	-34.1
Net margin	1%	16%	12%	-9%	-18%	-11%	-42%	-16%	-42%	-7%	-207%	-20%	-27%	-9%	-235%	-1%	-8%	-5%	-4%	-2%
Diluted EPS	$0.09	$1.24	$0.95	-$0.76	-$1.54	-$0.91	-$3.62	-$1.22	-$3.20	-$0.54	-$17.02	-$1.52	-$2.08	-$0.71	-$21.08	-$0.07	-$0.73	-$0.50	-$0.32	-$0.18
Operating cash flow	135	-265	239	101	54.6	-120	-34.7	5.0	64.8	-77.0	-8.9	-191	-128	-4.8	279	-44.7	128	305	235	-169
Capital expenditure	24.8	22.2	25.2	42.5	56.9	38.3	66.5	31.5	28.4	35.6	46.2	35.1	36.8	43.4	54.1	25.1	31.9	69.0	36.8	25.0
Free cash flow	111	-287	214	58.3	-2.3	-158	-101	-26.5	36.4	-113	-55.1	-226	-165	-48.2	225	-69.8	96.5	236	199	-194
Buybacks	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	115m	115m	115m	166m	168m	168m	169m	170m	170m	170m	171m	175m	176m	176m	177m	184m	185m	185m	185m	187m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2025, filed 7 November 2025: the filing.