Equity · Technology
Take-Two Interactive Software, Inc. (TTWO) perpetual futures
TTWO perpetual futures on 20 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TTWOUSDT.
Take-Two Interactive develops and publishes interactive entertainment under labels like Rockstar Games and 2K, known for Grand Theft Auto and NBA 2K.
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21/21 live markets
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Perpetual market activity
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Venue matrix
21 markets
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| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | TTWO/USDT | Trading | $229.95 | 0.0% APR 0.000% every 8h | +4.3 bps | - | $1.1M | $2M | USDT | - | |
 Bitget | Trade | TTWO/USDT | Trading | $229.97 | 0.0% APR 0.000% every 8h | +3.9 bps | $465.1K | $469.9K | $1.3M | USDT | 20x | |
 LBank | Trade | TTWO/USDT | Trading | $230.00 | 0.0% APR 0.000% every 8h | +4.3 bps | $521.2K | $303.2K | $95.3K | USDT | 50x | |
 Hyperliquid HIP-3 | Trade | xyz:TTWO | Trading | $229.78 | -3.7% APR -0.00042% every 1h | +17.4 bps | - | $278.3K | $841.5K | USDC | 10x | |
 Bybit | Trade | TTWO/USDT | Trading | $229.91 | 0.0% APR 0.000% every 8h | +6.5 bps | $35.1K | $198.7K | $1.8M | USDT | 25x | |
 MEXC | Trade | TTWO/USDT | Trading | $229.99 | 0.0% APR 0.000% every 8h | +7.0 bps | $33.7K | $178.7K | $2.6M | USDT | 20x | |
 Bitunix | Trade | TTWO/USDT | Trading | $230.03 | +3.4% APR +0.00312% every 8h | +15.7 bps | $125.6K | $164K | $68.8K | USDT | 25x | |
| Hyperliquid HIP-3 | Trade | para:TTWO | Trading | $229.06 | +165.6% APR +0.019% every 1h | +43.1 bps | $71.3K | $138.3K | $3.1M | USDC | 10x | |
 Ondo Perps | Trade | TTWO/USD | Trading | $229.64 | - | +14.8 bps | $412K | $70.4K | $504K | USDC | 10x | |
 HTX | Trade | TTWO/USDT | Trading | $230.03 | +11.0% APR +0.010% every 8h | +60.0 bps | $147.3K | $46.6K | $8.2K | USDT | - | |
 OKX | Trade | TTWO/USDT | Trading | $229.87 | 0.0% APR 0.000% every 8h | +9.6 bps | $22.8K | $45.4K | $281.5K | USDT | 20x | |
 BloFin | Trade | TTWO/USDT | Trading | $230.04 | 0.0% APR 0.000% every 8h | +3.0 bps | - | $41.1K | $52.6K | USDT | 25x | |
 Variational | Trade | TTWO/USDC | Trading | $229.92 | 0.0% APR 0.000% every 8h | +10.7 bps | no public depth feed | $17.6K | $224.7K | USDC | - | |
 Crypto.com Exchange | Trade | TTWO/USD | Trading | $230.21 | +5.0% APR +0.00057% every 1h | +11.7 bps | $4.9K | $1.7K | $2.1K | USD | 50x | |
 Gate.io | Trade | TTWO/USDT | Trading | $229.60 | 0.0% APR 0.000% every 8h | +30.4 bps | $15.4K | $1.3K | $268.5K | USDT | 20x | |
 Extended | Trade | TTWO/USD | Trading | $228.01 | +10.5% APR +0.00120% every 1h | +604.3 bps | - | $0 | $211.4K | USD | 10x | |
 Deepcoin | Trade | TTWO/USDT | Trading | $229.83 | - | +4.3 bps | - | $2.5M | - | USDT | 25x | |
 XT.com | Trade | TTWO/USDT | Trading | $229.84 | 0.0% APR 0.000% every 8h | +4.4 bps | $236K | $733.9K | - | USDT | 25x | |
 Ourbit | Trade | TTWO/USDT | Trading | $230.00 | 0.0% APR 0.000% every 8h | +4.3 bps | $108.4K | $1.2M⚠ | $144K | USDT | 20x | |
 BingX | Trade | TTWO-USDT | Trading | $230.03 | +5.5% APR +0.00500% every 8h | +4.8 bps | $283.6K | $785K⚠ | $2.2K | USDT | - | |
 KuCoin | Trade | TTWO/USDT | Trading | $230.28 | 0.0% APR 0.000% every 8h | +10.4 bps | $9.3K | $649.6K⚠ | $174.9K | USDT | 20x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| TTWORobinhood | $229.70 | -0.13% | $33k | $1.2M | Robinhood Chain |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 uniswapDEX · robinhood | TTWO/USDG ↗ | $229.70 | $33k | $348k |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 16 of 20 venues absorb $10k · Typical cost: +12.8 bps – +38.3 bps
Cheapest execution: LBank · +9.1 bps
Too thin: KuCoin, Crypto.com Exchange
No fresh book data: Variational, Extended
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
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Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6Company events
6Peer comparison
Similar listed perpsRevenue mix
Latest annualAnalysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $290.79 |
| 12-month target range (low – high) | $262 – $330 |
| Ratings in the provider's consensus | 59 |
Price targets as of 2026-11-15
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 3 | 25 | 1 | 0 | 1 |
| Oct 2026 | 3 | 25 | 1 | 0 | 1 |
| Sep 2026 | 3 | 25 | 0 | 0 | 1 |
| Aug 2026 | 3 | 26 | 0 | 0 | 1 |
| Jul 2026 | 2 | 26 | 0 | 0 | 1 |
| Jun 2026 | 3 | 26 | 0 | 0 | 1 |
| May 2026 | 2 | 25 | 1 | 0 | 1 |
| Apr 2026 | 2 | 24 | 1 | 0 | 1 |
| Mar 2026 | 2 | 24 | 1 | 0 | 1 |
| Feb 2026 | 3 | 25 | 1 | 1 | 1 |
| Jan 2026 | 3 | 24 | 1 | 1 | 0 |
| Dec 2025 | 3 | 24 | 2 | 1 | 0 |
Ownership
Institutional · 2026-Q3Reference market activity
TTWO-PERPPrice performance
11Insider activity
FY2026 Q4Insider transactions
25Take-Two director Ellen F. Siminoff sold 167 shares of Common Stock at $202.92 per share in an open-market sale on 2026-10-15, leaving 1,332 shares owned.
Take-Two director William B. Gordon received an award of 1,217 shares of common stock on Oct 1, 2026, bringing his holdings to 48,404 shares. No open-market purchases were reported.
Take-Two Interactive director Ellen F. Siminoff was awarded 1,240 shares of Common Stock at $0.00 on Oct 2, 2026, leaving her 9,811 shares owned.
Take-Two Interactive director Roland A. Hernandez was granted 1,258 shares of Common Stock (Code A) at $0.00 on 2026-10-01, bringing his holding to 11,985 shares.
Take-Two director Paul E Viera received a grant (A-Award) of 1,229 shares of Common Stock on 2026-10-01. No open-market purchase or sale occurred; holdings rose to 18,502 shares.
Take-Two director Srinivasan LaVerne Evans received 1,586 common shares via a stock award on Oct 1, 2026, bringing holdings to 9,943 shares. No open-market purchase occurred.
Take-Two director Susan Tolson received a grant (A-Award) of 1,126 common shares on Oct 1, 2026, at $0.00, leaving her with 33,248 shares owned.
Take-Two director Michael Sheresky received an award of 1,126 common shares and sold 484 shares at $203.69, leaving him with 66,010 shares.
Take-Two director Jon J Moses received an award of 1,126 common shares at $0.00, leaving 22,994 shares owned, per Form 4 filed 2026-10-05.
Take-Two director Michael Dornemann received a grant (A-Award) of 1,126 Common Stock shares at $0.00 on 2026-10-01, holding 21,500 shares after. This is compensation, not an open-market purchase.
Director William B. Gordon sold 10,000 Take-Two Interactive (TTWO) common shares in 3 open-market transactions on 2026-09-29 at $200.92-$202.75, leaving 47,187 shares owned.
Take-Two director Ellen F. Siminoff sold 167 shares of common stock at $219.53 on Sep 15, 2026, retaining 1,499 shares.
Chief Legal Officer Daniel P Emerson sold 1,661 common shares of Take-Two Interactive in two open-market transactions on September 2-3, 2026, at prices between $217.03 and $217.65.
Officer Goldstein Lainie sold 1,335 common shares on 2026-09-02 at $217.65 per share, retaining 282,039 shares.
On 2026-08-14, director Ellen F. Siminoff sold 167 common shares of Take-Two Interactive at $242.34 each, leaving 1,666 shares owned.
Director LaVerne Evans sold 362 common shares of Take-Two Interactive at $245.01 each on August 17, 2026, leaving 8,357 shares.
Director Michael Sheresky sold 127 common shares of Take-Two Interactive at $245.01 each on 2026-08-17.
Take-Two director and CEO Strauss Zelnick sold 27,900 common shares in four open-market trades on Aug 10, 2026 at $250.49-$253.33, leaving 164,414 shares owned.
Filings
60 · Latest SEC filingsTake-Two director Ellen F. Siminoff sold 167 shares of Common Stock at $202.92 per share in an open-market sale on 2026-10-15, leaving 1,332 shares owned.
Take-Two Interactive director Roland A. Hernandez was granted 1,258 shares of Common Stock (Code A) at $0.00 on 2026-10-01, bringing his holding to 11,985 shares.
Take-Two director Michael Sheresky received an award of 1,126 common shares and sold 484 shares at $203.69, leaving him with 66,010 shares.
Take-Two director William B. Gordon received an award of 1,217 shares of common stock on Oct 1, 2026, bringing his holdings to 48,404 shares. No open-market purchases were reported.
Take-Two director Srinivasan LaVerne Evans received 1,586 common shares via a stock award on Oct 1, 2026, bringing holdings to 9,943 shares. No open-market purchase occurred.
Take-Two director Jon J Moses received an award of 1,126 common shares at $0.00, leaving 22,994 shares owned, per Form 4 filed 2026-10-05.
Take-Two director Michael Dornemann received a grant (A-Award) of 1,126 Common Stock shares at $0.00 on 2026-10-01, holding 21,500 shares after. This is compensation, not an open-market purchase.
Take-Two Interactive director Ellen F. Siminoff was awarded 1,240 shares of Common Stock at $0.00 on Oct 2, 2026, leaving her 9,811 shares owned.
Take-Two director Susan Tolson received a grant (A-Award) of 1,126 common shares on Oct 1, 2026, at $0.00, leaving her with 33,248 shares owned.
Take-Two director Paul E Viera received a grant (A-Award) of 1,229 shares of Common Stock on 2026-10-01. No open-market purchase or sale occurred; holdings rose to 18,502 shares.
Director William B. Gordon sold 10,000 Take-Two Interactive (TTWO) common shares in 3 open-market transactions on 2026-09-29 at $200.92-$202.75, leaving 47,187 shares owned.
Take-Two director Ellen F. Siminoff sold 167 shares of common stock at $219.53 on Sep 15, 2026, retaining 1,499 shares.
Officer Goldstein Lainie sold 1,335 common shares on 2026-09-02 at $217.65 per share, retaining 282,039 shares.
Chief Legal Officer Daniel P Emerson sold 1,661 common shares of Take-Two Interactive in two open-market transactions on September 2-3, 2026, at prices between $217.03 and $217.65.
On 2026-08-14, director Ellen F. Siminoff sold 167 common shares of Take-Two Interactive at $242.34 each, leaving 1,666 shares owned.
Director LaVerne Evans sold 362 common shares of Take-Two Interactive at $245.01 each on August 17, 2026, leaving 8,357 shares.
Director Michael Sheresky sold 127 common shares of Take-Two Interactive at $245.01 each on 2026-08-17.
Take-Two director and CEO Strauss Zelnick sold 27,900 common shares in four open-market trades on Aug 10, 2026 at $250.49-$253.33, leaving 164,414 shares owned.
Director Paul E. Viera received a grant of 93 common shares (compensation, not an open-market purchase), bringing his total holdings to 17,273 shares.
Director Ellen F. Siminoff received an award of 104 common shares (compensation, not a purchase) and separately sold 167 common shares at $252.53 each on 2026-07-01.
William B. Gordon, a director at Take-Two Interactive, was granted 82 shares of common stock as compensation on 2026-07-01, bringing his total holdings to 57,187 shares.
Jon J. Moses, a director at Take-Two Interactive, sold 500 shares of common stock on the open market at $244.61 per share, leaving 21,868 shares owned afterward.
Take-Two's Chief Legal Officer Daniel P. Emerson sold 4,419 common shares at $230, leaving 113,988 shares owned afterward.
Jon J. Moses, a Take-Two Interactive director, sold 500 shares of common stock on 2026-06-15 at $215.215 per share, leaving 22,368 shares owned afterward.
Take-Two Interactive's Chief Legal Officer, Daniel P. Emerson, sold 4,421 shares of common stock at $215 on 2026-06-15, leaving 118,407 shares owned afterward.
Take-Two Chief Legal Officer Daniel P. Emerson sold 8,840 shares of common stock at $214 per share, leaving 122,828 shares owned afterward.
Director Michael Dornemann sold 1,151 shares of Take-Two common stock at $217.02, leaving 20,374 shares owned afterward.
Take-Two's Chief Legal Officer Daniel Emerson received a grant of 38,090 common shares as compensation, sold 21,102 shares at $219.61, and returned 9,609 shares to the issuer.
Zelnick Strauss received an award of 329,949 shares, sold 208,969 shares at $224.44-$231.01, returned 64,812 shares to the issuer, disposed of 209,805 shares (other), and gifted 85,850 shares.
Take-Two CFO Lainie Goldstein was awarded 57,135 shares of common stock, sold 31,060 shares at $219.61 each, and returned 14,001 shares to the company.
On June 1, 2026, President Karl Slatoff reported net sales of common stock: he disposed of 64,812 shares via return, sold 249,327 shares (price range $214.99-$231.01), received 329,949 shares as an award, and had other transactions resulting in a net decrease of 169,447 shares.
Director LaVerne Evans Srinivasan sold 373 shares of Take-Two common stock at $229.35, leaving 8,719 shares owned afterward.
On May 29, 2026, Director Michael Sheresky sold 131 common shares of Take-Two Interactive at $218.26 each, leaving 65,495 shares owned.
Strauss Zelnick sold 70,000 shares of Take-Two common stock in 11 open-market transactions at $221.37–$224.33, and gifted 20,000 shares.
Director Ellen F. Siminoff sold 143 common shares of Take-Two Interactive at $207.66 each on April 15, 2026, leaving 2,000 shares owned.
Director acquired 103 shares of Common Stock via an award (grant) on 2026-04-01, now holding 17,180 shares.
Director William B. Gordon received a grant of 91 common shares (Award) on 2026-04-01, now holding 57,105 shares.
Director Ellen F. Siminoff received a grant of 116 shares of Common Stock (Award) at no cost on 2026-04-01, now holding 8,467 shares.
Director Siminoff Ellen F sold 413 shares of Take-Two Interactive common stock at $209.36 each, reducing holdings to 2,143 shares.
Director Gordon sold 2,500 common shares at $208.69 each, leaving 57,014 shares owned.
Director Michael Dornemann sold 1,390 common shares of Take-Two Interactive at $213.09 each on March 5, 2026, retaining 21,525 shares.
Strauss Zelnick, CEO of Take-Two, sold 60,000 shares of common stock in three open-market transactions on Mar 2-3, 2026, at prices between $214.15 and $215.09.
Transcripts
Earnings callsFY2026 Q42026-05-21
Earnings calls
AI summary
positiveTake-Two exceeded FY2026 guidance with net bookings of $6.72 billion, approximately $750 million above initial guidance, led by record NBA 2K performance, strong mobile results, and continued Grand Theft Auto series momentum. The company projects FY2027 net bookings of $8.0-8.2 billion reflecting ~20% growth, with GTA VI's November 19 release as the primary driver alongside continued performance across sports and mobile franchises.
Key takeaways
- FY2026 net bookings of $6.72 billion exceeded high-end guidance; Q4 net bookings of $1.58 billion also exceeded guidance range
- NBA 2K delivered record net bookings with 30%+ RCS growth; GTA series continued strong performance with 5% RCS growth and 230M GTA V units sold-in
- FY2027 guidance of $8.0-8.2 billion reflects 20% growth, driven primarily by Grand Theft Auto VI launch and portfolio execution; Rockstar to begin marketing campaign summer 2026
- Mobile segment showed strength with Toon Blast up 25%, Match Factory! performing well, and total mobile up 13%; expecting mobile down slightly in FY2027 due to maturation of titles
- Operating cash flow of $624 million in FY2026; FY2027 guidance projects over $1 billion operating cash flow with expectation of net cash position by year-end
Financial highlights
- FY2026 net bookings: $6.72 billion (vs. guidance of $6.65B-$6.7B); Q4 net bookings: $1.58 billion (vs. guidance of $1.51B-$1.56B)
- FY2026 recurrent consumer spending grew 17% and represented 78% of net bookings; Q4 RCS grew 7% year-over-year
- FY2026 GAAP net revenue: $6.65 billion (up 18%); operating cash flow: $624 million (vs. forecast of $450 million)
- FY2027 guidance: net bookings $8.0B-$8.2B; operating cash flow in excess of $1 billion; GAAP net revenue $7.9B-$8.1B
Guidance
- FY2027 net bookings guidance of $8.0-8.2 billion reflects ~20% growth driven by Grand Theft Auto VI launch and portfolio execution
- FY2027 RCS expected flat to FY2026; recurrent consumer spending projected to represent 65% of net bookings with NBA 2K up high single-digits, GTA series up, and mobile down
- Expected label net bookings breakdown: 36% Rockstar Games, 35% Zynga, 29% 2K
- FY2027 operating cash flow forecast in excess of $1 billion; expected net cash position by fiscal year-end; capital expenditures of approximately $200 million planned
Q&A themes
- GTA VI remains highly anticipated; management expressed confidence but declined to opine on performance relative to GTA V; marketing campaign to begin summer 2026
- AI technology adoption discussed as efficiency and innovation driver; management noted AI allows for asset creation cost reduction and improved marketing efficiency without headcount reduction
- Mobile business expectations for FY2027 assume moderation in growth for mature titles like Color Block Jam; new mobile launches not expected to significantly impact guidance
- NBA 2K college basketball Season 5 launch validated opportunity; college basketball expansion expected to be meaningful for future years
Risks
- GTA VI performance remains uncertain despite positive expectations; management emphasized not opining on success before release and noted entertainment business is unforgiving
- Mobile segment guidance assumes moderation/decline for several mature Zynga titles; new mobile hit creation has low success rates despite access to equivalent technology
- FY2027 guidance reflects flat recurrent consumer spending guidance despite significant growth in prior year; Q4 NBA 2K moderation suggests potential challenge in sustaining extreme growth rates
FY2026 Q32026-02-03
Earnings calls
AI summary
positiveTake-Two delivered Q3 net bookings of $1.76B, significantly exceeding guidance, driven by exceptional performance across NBA 2K (30% RCS growth), Grand Theft Auto series (27% GTA Online growth), and mobile (19% growth). The company raised full-year FY2026 net bookings guidance to $6.65-7B and projects record levels of net bookings in FY2027 ahead of Grand Theft Auto VI's November 19 release.
Key takeaways
- Q3 net bookings of $1.76B exceeded high-end guidance of $1.6B; FY2026 guidance raised to $6.65-7B representing 18% YoY growth at midpoint
- Recurrent consumer spending grew 23% in Q3 and now expected to grow ~17% for full FY2026, representing 78% of net bookings
- Mobile segment delivered 19% YoY growth with TuneBlast up 43%, Empires and Puzzles up 116%, and advertising revenues up 10%
- NBA 2K26 sold ~8 million units with RCS, DAU, and MyCareer DAU all up 30% YoY; franchise on track for highest annual net bookings in history
- GTA V sold over 225 million units lifetime; GTA Online recurrent spending up 27% led by A Safe House in The Hills update; GTA Plus membership nearly doubled
Financial highlights
- Q3 FY2026 net bookings: $1.76B (vs. guidance $1.55-1.6B)
- Full FY2026 net bookings guidance: $6.65-7B (18% growth); midpoint $725M above May 2025 initial outlook
- FY2026 recurrent consumer spending expected ~17% growth, representing 78% of net bookings
- Operating cash flow raised to $450M (from $250M prior forecast); Q4 FY2026 net bookings guided $1.51-1.56B
Guidance
- FY2026 full-year net bookings: $6.65-7B (18% growth YoY); GAAP net revenue $6.55-6.6B; total operating expenses $3.96-3.97B
- FY2026 recurrent consumer spending: ~17% growth; NBA 2K expected 37% growth, mobile ~13% growth, GTA Online slight growth
- Q4 FY2026 net bookings: $1.51-1.56B; recurrent spending +7% with NBA 2K +20%, mobile mid-single digits, GTA Online modest decline
- FY2027 expected to generate record net bookings establishing higher financial baseline, driven by Grand Theft Auto VI (November 19 release) and other titles; rockstar marketing to begin summer 2026
Q&A themes
- Generative AI: Company has hundreds of pilots and implementations; AI drives efficiencies and frees creators for higher-value tasks; does not replace creative process
- Mobile: Two companies delivering new hits in mobile; Zynga's approach focuses on best talent, creative passion, and data-driven iteration; market rebounds post-pandemic with strong tailwinds
- Direct-to-Consumer: Meaningful portion of mobile recurring revenue; regulatory environment increasingly favorable; reduces app store fees and improves margins; early stage with significant growth potential
- GTA VI: Summer 2026 marketing launch planned; Rockstar committed to creative, extensive marketing despite strong consumer anticipation; GTA Online expected to continue receiving support post-GTA VI launch
Risks
- Mobile market historically volatile; launching new hits remains exceptionally difficult; fewer than two companies successfully deliver new mobile hits regularly
- GTA VI November release timing creates concentrated earnings risk; any delays or underperformance would impact FY2027 outlook
- Direct-to-consumer growth dependent on favorable regulatory environment; changes in app store policies or regulations could impact monetization strategy
FY2026 Q22025-11-06
Earnings calls
AI summary
positiveTake-Two achieved its best second quarter net bookings in company history at $1.96B, significantly exceeding guidance of $1.7-1.75B, prompting the company to raise full-year FY2026 net bookings guidance to $6.4-6.5B (14% growth at midpoint). Key drivers included NBA 2K26's record-breaking launch with 5M+ units sold and 45% recurrent consumer spending growth, strong mobile portfolio performance, and Mafia: The Old Country's critical success. Rockstar Games announced GTA VI will release on November 19, 2026, giving the team additional time for polish.
Key takeaways
- Q2 net bookings of $1.96B marked best second quarter in company history; FY2026 guidance raised to $6.4-6.5B representing 14% YoY growth at midpoint
- NBA 2K26 achieved double-digit unit sales increase over 2K25 with record average selling prices and 45% recurrent consumer spending growth; daily active users grew 30% and MyCAREER DAU grew 40%
- Mobile business delivered strong results: Toon Blast grew 26% YoY, Match Factory! achieved record net bookings, Color Block Jam remains highest-grossing Rollic title, and CSR franchise reached $1B lifetime in-game spending
- GTA VI release date moved to November 19, 2026; GTA V has sold 220M+ units worldwide with GTA+ membership growing 20% YoY
- Direct-to-consumer mobile initiative expanded across portfolio due to recent legislative changes enabling new payment mechanisms and international expansion opportunities
Financial highlights
- Q2 net bookings: $1.96B vs. guidance of $1.7-1.75B; GAAP net revenue increased 31% to $1.77B
- Recurrent consumer spending rose 20% for Q2, outperforming 1% guidance, and represents 73% of net bookings; full-year RCS guidance raised to 11% growth representing 77% of net bookings
- FY2026 net bookings guidance: $6.4-6.5B (vs. prior $6.2-6.4B); operating cash flow forecast increased to approximately $250M
- Q3 FY2026 net bookings guidance: $1.55-1.6B vs. prior year $1.37B; recurrent consumer spending expected to increase approximately 8%
Guidance
- FY2026 net bookings raised to $6.4-6.5B representing 14% growth at midpoint over FY2025
- Recurrent consumer spending now expected to grow approximately 11% (up from prior 4% forecast), representing 77% of net bookings with NBA 2K growing mid-20%, mobile increasing approximately 10%, and GTA Online declining
- Q3 FY2026 net bookings projected $1.55-1.6B with recurrent consumer spending up approximately 8%; assumes low double-digit mobile growth, mid-single-digit NBA 2K growth, and GTA Online decline
- Full-year label breakdown: Zynga 46%, 2K 39%, Rockstar Games 15%; largest contributors expected to be NBA 2K, GTA series, Toon Blast, Match Factory!, Borderlands 4, Color Block Jam, Empires & Puzzles, Red Dead Redemption series, and Words with Friends
Q&A themes
- Mobile momentum and recurrent consumer spending drivers: Strong execution from creative teams, engagement-focused game design, live services innovation, and direct-to-consumer business expansion driving higher monetization
- NBA 2K audience expansion: Returning player cohorts, international growth, premium edition success (7-day early access), and improved engagement mechanics; management indicates business is between 3rd and 7th inning with room for growth
- Borderlands 4 launch challenges: PC optimization and performance issues caused softer initial launch than expected; Gearbox addressing problems; long-lived title model allows for strong unit sales recovery over time vs. annual franchises
- GTA VI delay rationale: Rockstar prioritizing polish and exceeding consumer expectations; company culture focuses on quality reflected in Metacritic scores exceeding 95 and continued GTA Online engagement supporting player base retention
Risks
- Borderlands 4 experienced PC optimization and performance issues at launch, resulting in softer-than-expected initial sales performance despite strong critical reception and franchise engagement metrics
- GTA VI release delay to November 19, 2026 represents execution risk and extended period requiring strong GTA Online engagement maintenance; management acknowledges some industry belief in modest rather than strong tailwinds
- Mobile market competition and sustainability: Strong current outperformance acknowledged as potentially above-industry-trend; company emphasizes need to maintain creative quality and operational execution to sustain position
FY2026 Q12025-08-07
Earnings calls
AI summary
positiveTake-Two exceeded expectations in Q1 FY2026 with net bookings of $1.42 billion, driven by outperformance in Mobile titles (Toon Blast, Match Factory!, Color Block Jam), NBA 2K25, and Grand Theft Auto series. The company raised full-year net bookings guidance to $6.05B-$6.15B (8% growth) and expects record net bookings in FY2027. Recurrent consumer spending grew 17% in Q1 and is now guided to grow approximately 4% for the full year.
Key takeaways
- Q1 net bookings of $1.42B significantly exceeded guidance range of $1.25B-$1.3B, with Mobile growing low teens and recurrent consumer spending up 17%
- Grand Theft Auto V has sold over 215 million units; GTA Online saw new player accounts grow over 50% year-over-year
- NBA 2K25 sold over 11.5 million units with daily active users and MyCAREER daily active users each up 30%, driving 48% recurrent consumer spending growth
- Q2 FY2026 net bookings guidance of $1.7B-$1.75B reflects launches of Mafia: The Old Country, NBA 2K26, and Borderlands 4
Financial highlights
- Q1 FY2026 net bookings: $1.42 billion (vs. guidance of $1.25B-$1.3B)
- GAAP net revenue increased 12% to $1.5 billion; operating expenses decreased 3% to $923 million
- Recurrent consumer spending grew 17% in Q1, accounting for 83% of net bookings
- Full-year FY2026 net bookings guidance raised to $6.05B-$6.15B; recurrent consumer spending guidance revised upward to approximately 4% growth (representing 76% of net bookings)
Guidance
- FY2026 net bookings guidance: $6.05B-$6.15B (8% growth at midpoint); previously guided to lower range
- FY2026 recurrent consumer spending: approximately 4% growth (revised upward from flat); expects record net bookings in FY2027
- Q2 FY2026 net bookings: $1.7B-$1.75B vs. $1.47B in Q2 FY2025; operating expenses $1.02B-$1.03B
- Label net bookings breakdown: roughly 45% Zynga, 39% 2K, 16% Rockstar Games
Q&A themes
- NBA 2K strength driven by both MyCAREER and MyTEAM modes with improved in-game telemetry management; growth not attributable to single feature
- Mobile guidance implies deceleration due to anticipated maturation and life cycle modeling of hyper and hybrid-casual titles despite strong Q1 momentum
- Pricing strategy focuses on delivering more value than charged; variable pricing remains standard with potential for discounts over time
- Court rulings on alternative app stores support shift toward open distribution; company exploring direct-to-consumer monetization while maintaining key retail partnerships
Risks
- Macroeconomic uncertainty with unemployment potentially rising to 4.5% may cause consumers to be more selective in entertainment spending, though management expects modest growth and potential flight to quality benefits premium content
- Mobile portfolio faces anticipated maturation and moderation despite strong Q1 results; guidance assumes deceleration based on life cycle curves of similar titles
FY2025 Q42025-05-15
Earnings calls
FY2025 Q32025-02-06
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.Company data
Company intelligence
Updated: Nov 15, 2026, 03:57 AM UTC
Company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Electronic Gaming & Multimedia
- Chief executive
- Strauss H. Zelnick
- Employees
- 12,909
- IPO date
- Apr 15, 1997
- Country
- US
- Exchange
- NASDAQ Global Select
Rating factors
- Return on equityi
- 1/5
- Return on assetsi
- 1/5
- Debt to equityi
- 1/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
Congressional disclosures
Senate
House
Market cap history
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.05% | 5.6M |
| VOO | 0.06% | 4.6M |
| XLC | 3.75% | 4M |
| QQQ | 0.18% | 3.9M |
| VO | 0.37% | 3.8M |
| FXAIX | 0.07% | 2.6M |
| IVV | 0.06% | 2.2M |
| 1657.T | 0.04% | 2.2M |
| 1557.T | 0.06% | 2.1M |
| VUG | 0.12% | 2.1M |
| SPY | 0.06% | 2.1M |
| VCPA.S | 0.03% | 1.5M |
Analyst track record
How the analysts covering TTWO have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 122 | 375 |
| Analysts | 26 | 43 |
| Buy / hold / sell | 122 / 0 / 0 | 362 / 13 / 0 |
| Upgrades / downgrades / initiations | 1 / 0 / 4 | 7 / 5 / 11 |
| Price targets hit / missed | 0 / 118 (0%) | 168 / 194 (46%) |
| Avg. return after a rating (TipRanks) | -22.8% | -0.1% |
| Best / worst call | -13.4% / -38.3% | +50.3% / -38.3% |
After buy calls on this stock: median 21-day move +2.1% vs S&P 500 +0.5% (n = 362)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Drew CrumB. Riley Securities100% hit rate on this stock · 13 targets measuredBuytarget $300Aug 28, 2026
- Colin SebastianRobert W. Baird100% hit rate on this stock · 11 targets measuredBuytarget $270Aug 10, 2026
- Doug CreutzTD Cowen87% hit rate on this stock · 15 targets measuredBuytarget $284Aug 28, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 11, 2026 | Andrew MarokRaymond JamesNov 11, 2026 | BuyMaintained | $300↗ | article ↗ |
| Nov 10, 2026 | Chris SchoellUBSNov 10, 2026 | BuyReiterated | $295↗ | article ↗ |
| Nov 10, 2026 | Eric HandlerRoth MKMNov 10, 2026 | BuyMaintained | $272↗ | article ↗ |
| Nov 10, 2026 | Matthew CostMorgan StanleyNov 10, 2026 | BuyMaintained | $280↗ | article ↗ |
| Nov 10, 2026 | Eric SheridanGoldman SachsNov 10, 2026 | BuyReiterated | $290↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 122 ratings
Frequently asked questions
Where can I trade TTWO perpetual futures?
Take-Two Interactive Software, Inc. (TTWO) perpetual futures trade on 20 crypto venues, including Deepcoin, Ourbit, Binance. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade TTWO around the clock?
Yes. Unlike the underlying stock, TTWO perpetuals trade 24/7 — including weekends and outside regular market hours.
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Right now the TTWO perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 20 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the TTWO perp price compare to the Take-Two Interactive Software, Inc. stock?
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A TTWO perpetual is a derivative that tracks the price of Take-Two Interactive Software, Inc. with no expiry date. It lets you take long or short exposure to Take-Two Interactive Software, Inc. on crypto venues, around the clock.
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TTWOUSDT is the symbol most crypto exchanges use for the Take-Two Interactive Software, Inc. perpetual settled in USDT (Tether). It tracks the TTWO share price through an index, trades 24/7 with leverage and never expires.
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