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Take-Two Interactive Software (TTWO) FY2026 results: revenue $6.7 billion, up 18.2% on the year

Take-Two Interactive Software, Inc. (TTWO) reported revenue of $6.7 billion for fiscal 2026, the year ended 31 March 2026, up 18.2% on the year before. Net income was -$298 million, and diluted earnings per share $-1.62. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2026.

Revenue
$6.7 billion
+18.2% on the year
FY2019FY2026
Operating margin
-1.6%
-77.9% a year earlier
FY2019FY2026
Net income
-$298 million
FY2019FY2026
Diluted EPS
-$1.62
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 17 new, 1 kept.

  • Fourth quarter Net Bookings flat: Fourth quarter Net Bookings were $1.58 billion, flat year over year.
  • Fiscal year Net Bookings up 19%: Fiscal 2026 Net Bookings grew 19% to $6.72 billion from $5.65 billion in fiscal 2025.
  • Operating income positive in quarter: Income from operations was $10.9 million in the fourth quarter, against a loss of $3,776.9 million a year earlier.
  • Operating cash flow positive for year: Net cash provided by operating activities was $624.3 million in fiscal 2026, against $45.2 million used in fiscal 2025.
  • Fiscal 2027 Net Bookings guided up: Initial fiscal 2027 guidance includes Net Bookings of $8.0 to $8.2 billion.
Read the Q4 FY2026 earnings call summary

From this 10-K

Take-Two develops, publishes and markets interactive entertainment, through three labels: Rockstar Games, 2K and Zynga. The products are built for console gaming systems, mobile including smartphones and tablets, and personal computers, and they reach players through physical retail, digital download, online platforms and cloud streaming services. There is one operating and reportable segment. Substantially all revenue comes from that content, covering internally developed titles and titles developed by third parties, in-game virtual items, advertising and live services.

Take-Two Interactive Software, Inc., the 10-K for 2026

Take-Two develops, publishes and markets interactive entertainment, through three labels: Rockstar Games, 2K and Zynga. The products are built for console gaming systems, mobile including smartphones and tablets, and personal computers, and they reach players through physical retail, digital download, online platforms and cloud streaming services. There is one operating and reportable segment. Substantially all revenue comes from that content, covering internally developed titles and titles developed by third parties, in-game virtual items, advertising and live services.

Headcount was 12,909 full-time employees as of 31 March 2026, of which 9,998 were in development studios. Those studios sit in Australia, Canada, China, the Czech Republic, Finland, Germany, Hungary, India, Serbia, South Korea, Spain, Turkey, the United Kingdom and the United States. Revenue earned outside the U.S. was 40.8% of the net total in fiscal 2026, against 39.5% and 38.7% in the two years before.

Rockstar Games

Rockstar Games is wholly owned and its titles are primarily internally developed. Its strategy is to develop a limited number of titles known for quality and longevity, from which it can create sequels and further revenue through virtual currency, add-on content and in-game purchases across all key platforms. The franchises are Grand Theft Auto, L.A. Noire, Max Payne, Midnight Club and Red Dead Redemption, among others.

The Grand Theft Auto series has sold-in over 465 million units worldwide. Grand Theft Auto V, released in 2013, has sold-in over 225 million units and includes access to Grand Theft Auto Online. Red Dead Redemption 2 has sold-in more than 80 million units. GTA+ is a membership program giving players rotating benefits including access to classic Rockstar Games titles. The company has announced that Grand Theft Auto VI is planned for release on 19 November 2026, in its fiscal year 2027; the first trailer came out in December 2023 and the second in May 2025.

2K

The 2K label publishes across all key platforms and across shooter, action, role-playing, strategy, sports and family and casual genres. Its internally owned and developed franchises include BioShock, Borderlands, Mafia, Sid Meier's Civilization, Tiny Tina's Wonderlands and XCOM. The sports simulation titles are the NBA 2K series, which the filing describes as the top-ranked NBA basketball video game, the WWE 2K wrestling series, PGA TOUR 2K and TopSpin 2K. It also publishes mobile titles including WWE SuperCard and NBA 2K All-Stars.

Zynga

Zynga publishes free-to-play mobile games and earns from in-game sales and advertising. Its approach is to keep a number of games in concept development and decide which are suited to a soft launch and then a worldwide launch based on hitting milestones and key performance indicator thresholds. Its franchises have been downloaded more than 10 billion times and include Color Block Jam, CSR2, Empires & Puzzles, Game of Thrones: Legends, Game of Thrones Slots Casino, Golf Rival, Harry Potter: Puzzles & Spells, Hit it Rich! Casino, Match Factory!, Merge Dragons!, Toon Blast, Toy Blast, Wizard of Oz Slots Casino, Words With Friends and Zynga Poker.

The platform holders

Take-Two has licence agreements with Sony and Microsoft to develop and publish software in Asia, Australia, Europe, North America and certain Latin American, Middle Eastern and African countries. No licence from a hardware manufacturer is required to develop titles for the PC.

The Sony agreement, a PlayStation Global Developer and Publisher Agreement effective 23 March 2017, grants the right to develop, publish, have manufactured, market, advertise, distribute and sell PlayStation compatible products for all PlayStation systems. It requires products to be submitted to Sony for approval, royalty payments to Sony based on the number of units manufactured or the revenue from digitally downloaded content, and manufacture by Sony-approved manufacturers. The term expires on 31 March 2027 with automatic one-year renewals unless notice is given, Sony may terminate for any or no reason on 30 days' notice, and it may terminate immediately on a breach or on Take-Two's bankruptcy or insolvency.

The intellectual property

Most of the intellectual property is internally owned and developed, which the company says best positions it financially and competitively, and it licenses selectively some highly recognisable brands, particularly in sports entertainment. Many releases carry a steady cadence of post-launch content, including virtual currency, add-on content and in-game purchases, and a direct-to-consumer commerce platform through which players buy in-game offerings, primarily for the mobile titles.

From Take-Two Interactive's annual report on Form 10-K for the year ended 31 March 2026. The filing

Written from the 10-K filed 22 May 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue6,6565,6345,350+18.2%
Cost of revenue2,8472,5713,108+10.7%
Gross profit3,8103,0622,242+24.4%
Gross margin57.2%54.4%41.9%
Operating income-104-4,391-3,591
Operating margin-1.6%-77.9%-67.1%
Interest expense151167141-9.5%
Pre-tax income-198-4,491-3,703
Income tax100-12.441.4
Net income-298-4,479-3,744
Net margin-4.5%-79.5%-70.0%
Diluted EPS-$1.62-$25.58-$22.01
$ million except per share.
Read moreFree 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

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow624-45.2-16.1
Capital expenditure163169142-3.9%
Free cash flow462-215-158
Free cash flow margin6.9%-3.8%-2.9%
Cash from investing-649-152-28.2
Cash from financing94.6650-91.4-85.5%
Depreciation and amortisation198229171-13.5%
Share-based compensation305324336-5.8%
Buybacksn/an/a0.0
Diluted shares, weighted184m175m170m+5.0%
Shares outstanding at period end185m177m171m+4.7%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity3,5112,1385,668+64.2%
Debt2,5303,6783,100-31.2%
Operating lease liabilities370383387-3.4%
Other liabilities2,9722,9813,061-0.3%
Total liabilities and equity9,3839,18112,217+2.2%
Fixed assets445444411+0.4%
Goodwill1,0621,0574,426+0.4%
Intangible assets1,6532,3363,061-29.2%
Investments4449.422.0+4,621.3%
Cash and equivalents1,5461,456754+6.1%
Receivables737771680-4.4%
Other assets3,4963,1072,863+12.5%
Total assets9,3839,18112,217+2.2%

10-K for the year ended 31 March 2026, filed 22 May 2026: the filing.