Core Viewpoint - Shares of Take-Two Interactive experienced a decline of 6.26% in after-hours trading following the announcement of the postponement of Grand Theft Auto VI's launch to November 19, 2026 [1] Company Summary - Take-Two Interactive is a videogame publisher known for its popular titles, including the Grand Theft Auto series [1] - The delay in the launch of Grand Theft Auto VI has raised concerns among investors, leading to a significant drop in the company's stock price [1] Industry Summary - The postponement of major game releases can impact investor sentiment and stock performance within the videogame industry [1] - Anticipation for high-profile titles like Grand Theft Auto VI is crucial for maintaining investor confidence and market stability [1]

Financial Data and Key Metrics Changes - The company reported net bookings of $1.96 billion for the second quarter, significantly exceeding expectations and marking the best second quarter in the company's history [7][18] - GAAP net revenue increased by 31% to $1.77 billion, while the cost of revenue rose by 27% to $793 million [19] - Operating expenses increased by 5% to $1.1 billion, with management basis operating expenses rising by 13% year over year [19][23] - Recurrent consumer spending grew by 20%, accounting for 73% of net bookings, with expectations for recurrent consumer spending to grow approximately 11% for the full fiscal year [19][21] Business Line Data and Key Metrics Changes - The mobile business outperformed expectations, with Toon Blast growing 26% year over year and Match Factory achieving record net bookings with a 20% increase [8][9] - NBA 2K26 sold over 5 million units, representing a double-digit increase over NBA 2K25, with average selling prices reaching an all-time high [11] - Borderlands 4 received high critical praise but faced challenges with optimization and performance on PC, impacting initial sales [12][51] Market Data and Key Metrics Changes - The company expects net bookings for fiscal 2026 to range from $6.4 billion to $6.5 billion, reflecting a 14% growth over fiscal 2025 [20] - The breakdown of net bookings is projected to be approximately 46% from Zynga, 39% from 2K, and 15% from Rockstar Games [21] Company Strategy and Development Direction - The company aims to expand core franchises and release groundbreaking new titles, with a strong pipeline including Grand Theft Auto VI and other major franchises [17][25] - The focus on mobile direct-to-consumer business is expected to enhance net bookings and margins through new payment mechanisms and technologies [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong performance and a commitment to delivering high-quality entertainment experiences [15][25] - The company acknowledged the challenges faced with the delay of Grand Theft Auto VI but emphasized the importance of delivering a polished product [8][44] Other Important Information - The company has raised its full fiscal year guidance for net bookings and GAAP net revenue, reflecting strong performance in key titles [20][22] - The mobile gaming sector is experiencing pockets of growth, with the company attributing its success to quality and consumer engagement [82] Q&A Session Summary Question: Insights on RCS performance and GTA content updates - Management noted that the strong RCS performance is due to quality game development and engagement strategies, and there will be no change in support for GTA Online despite the release delay [30][31] Question: Impact of being a standalone publisher - Management acknowledged the competitive position as a standalone publisher but emphasized the importance of maintaining creative performance and economic success [36][37] Question: Mobile margins and alternate payment mechanisms - Management confirmed that the direct-to-consumer initiative has improved margins and that the rollout of alternate payment mechanisms is widespread across the mobile portfolio [41][42] Question: NBA audience expansion - Management indicated that returning players and international engagement are key to driving growth in the NBA franchise, with significant room for improvement in player retention [48][49] Question: M&A opportunities in mobile gaming - Management expressed a selective approach to M&A, focusing on strategic alignment and cultural fit, while highlighting the success of past acquisitions [55][57] Question: AI implementation in game development - Management clarified that while AI is not a replacement for creativity, it is being used to improve efficiency in non-creative areas of game development [60][61] Question: Update on BioShock franchise - Management confirmed that Rod Ferguson has been brought on to lead the BioShock franchise, with expectations for the next installment to exceed consumer expectations [64][66] Question: Ad revenue performance - Management noted that ad revenue growth is driven by strong performance across the mobile business, particularly from Rollic titles [68]

Financial Data and Key Metrics Changes - The company reported net bookings of $1.96 billion for the second quarter, significantly exceeding expectations and marking the best second quarter in the company's history [7][18] - GAAP net revenue increased by 31% to $1.77 billion, while the cost of revenue rose by 27% to $793 million [19] - Operating expenses increased by 5% to $1.1 billion, with management basis operating expenses rising by 13% year over year [19][23] - Recurrent consumer spending rose by 20%, accounting for 73% of net bookings, with expectations for recurrent consumer spending growth now projected at approximately 11% for the fiscal year [19][21] Business Line Data and Key Metrics Changes - The mobile business outperformed expectations, with Toon Blast growing 26% year over year and Match Factory achieving a 20% increase [8][9] - NBA 2K26 sold over 5 million units, representing a double-digit increase over NBA 2K25, with average selling prices reaching an all-time high [11] - The Grand Theft Auto Online community remains highly engaged, with GTA Plus membership growing over 20% year over year [14] Market Data and Key Metrics Changes - The company expects net bookings for fiscal 2026 to range from $6.4 billion to $6.5 billion, reflecting a 14% growth over fiscal 2025 [20] - The breakdown of net bookings is projected to be approximately 46% from Zynga, 39% from 2K, and 15% from Rockstar Games [22] Company Strategy and Development Direction - The company aims to expand core franchises and release groundbreaking new titles, with a strong pipeline including Grand Theft Auto VI and other major titles [17][25] - The focus on mobile direct-to-consumer business is expected to enhance net bookings and margins through new payment mechanisms [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong performance and a commitment to delivering high-quality entertainment experiences [15][25] - The company is confident in its ability to sustain momentum and achieve record levels of net bookings in fiscal 2027 [15][20] Other Important Information - The release date for Grand Theft Auto VI has been pushed to November 19, 2026, to ensure a high level of polish [8] - The company has seen a notable increase in ad revenue across its mobile business, particularly from Rollic [68] Q&A Session Summary Question: Insights on RCS performance and GTA content updates - Management noted that there are no expected changes in support for GTA Online despite the release date shift for GTA VI, emphasizing ongoing strong performance [30] Question: Impact of being a standalone publisher - Management acknowledged the competitive position but emphasized a focus on creativity and performance as key to future success [36] Question: Mobile margins and alternate payment mechanisms - Management confirmed that the rollout of direct-to-consumer initiatives has improved margins and net bookings, with expectations for continued growth [41] Question: NBA audience expansion - Management indicated that returning players and international engagement are key to driving recurrent consumer spending in NBA titles [49] Question: Importance of launch period for Borderlands - Management acknowledged a softer launch for Borderlands 4 but expressed confidence in long-term unit sales and economic results [51] Question: Confidence in sustaining mobile outperformance - Management attributed Zynga's success to strong leadership and execution, with a focus on strategic acquisitions and disciplined growth [54] Question: AI implementation in game development - Management discussed the positive role of AI in enhancing efficiency but emphasized that creativity remains the core of game development [60] Question: Update on BioShock franchise - Management expressed excitement about the new leadership for the BioShock franchise and confidence in delivering a product that exceeds consumer expectations [65]

Financial Data and Key Metrics Changes - The company reported net bookings of $1.96 billion for Q2 2026, significantly exceeding expectations and marking the best second quarter in the company's history [5][17] - GAAP net revenue increased by 31% to $1.77 billion, while cost of revenue rose by 27% to $793 million [18] - Operating expenses increased by 5% to $1.1 billion, with management basis operating expenses rising by 13% year over year [18] - The company raised its net bookings outlook for fiscal 2026 to a range of $6.4 billion to $6.5 billion, reflecting a 14% growth over fiscal 2025 at the midpoint [19][20] Business Line Data and Key Metrics Changes - The mobile business outperformed expectations, with Toon Blast growing 26% year over year and Match Factory achieving record net bookings with a 20% increase [6][8] - NBA 2K26 sold over 5 million units, representing a double-digit increase over NBA 2K25, with recurrent consumer spending growth of 45% [10][17] - The Grand Theft Auto Online community remains highly engaged, with GTA Plus membership growing over 20% year over year [12][28] Market Data and Key Metrics Changes - The company expects recurrent consumer spending to grow approximately 11%, driven by NBA 2K and higher expectations for several mobile titles [20] - The net bookings breakdown is projected to be approximately 46% from Zynga, 39% from 2K, and 15% from Rockstar Games [20] Company Strategy and Development Direction - The company aims to expand core franchises and release groundbreaking new titles, with a strong pipeline including Grand Theft Auto VI and other major releases [16][24] - The focus on mobile direct-to-consumer business is expected to enhance net bookings and margins through new payment mechanisms [9][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting to achieve record levels of net bookings in fiscal 2027 [13][24] - The company acknowledges modest industry tailwinds contributing to recurrent consumer spending growth [28][70] Other Important Information - The release date for Grand Theft Auto VI has been pushed to November 19, 2026, to ensure a high-quality product [6][16] - The company is focused on maintaining engagement in existing franchises while preparing for future releases [28][63] Q&A Session Summary Question: Common denominators in strong RCS performance - Management noted that the creative teams are delivering high-quality experiences, which correlates positively with performance [28] Question: Impact of being the last standalone publisher - Management expressed confidence in their position and emphasized the importance of maintaining creativity and performance [30][31] Question: Alternate payment mechanisms and margin uplift - Management confirmed that the direct-to-consumer initiative has been successful and is expected to improve margins [34][35] Question: Drivers behind the new GTA timeline - The decision to delay was based on the desire to deliver a polished experience that meets consumer expectations [38] Question: Incremental audiences for NBA - Management indicated that returning players and international engagement are key to driving recurring consumer spending [42] Question: Importance of launch period for Borderlands - Management acknowledged that the launch was softer than expected but remains optimistic about long-term sales [45] Question: Sustaining Zynga's outperformance - Management attributed Zynga's success to strong leadership and execution, with a focus on fewer titles and higher quality [48][49] Question: AI implementation in non-creative parts - Management clarified that AI is being used to improve efficiency but does not replace the need for creativity in game development [51][53] Question: Update on BioShock franchise - Management expressed excitement about the new leadership for the BioShock franchise and the positive trajectory of its development [57][58]

Q3 2025 Results November 6, 2025 This presentation provides select highlights about Motorsport Games Inc.'s results of operations. Please see Motorsport Games' Q3 2025 Form 10-Q, filed with the SEC and Q3 2025 earnings release for more complete information on the Company's results of operations, cash flows, financial condition and liquidity. motorsportgames 1 Q3 2025 Highlights Key Highlights and Business Update *Adjusted EBITDA is a non-GAAP financial measure. See definition of Adjusted EBITDA and its reco ...

Company Performance - Take-Two Interactive Software (TTWO) reported adjusted earnings of $1.46 per share on net bookings of $1.96 billion for the fiscal second quarter, significantly exceeding analyst expectations of $0.94 per share and $1.73 billion in net bookings [2][3] - Year-over-year, Take-Two's adjusted earnings increased by 121%, while net bookings rose by 33% [3] - The company's strong performance was attributed to successful titles like "NBA 2K6" and mobile games such as "Toon Blast" and "Match Factory" [3] Game Release Delay - Take-Two announced a six-month delay for the release of "Grand Theft Auto 6," moving the launch date from May 26 to November 19, to allow the development team more time to enhance the game's quality [2][3][6] - The CEO emphasized the importance of delivering a polished product to meet player expectations [6] Future Guidance - For the current quarter, Take-Two anticipates adjusted earnings of $0.80 per share on net bookings of $1.58 billion, compared to Wall Street's expectations of $0.76 per share and $1.49 billion in net bookings [4] - The company raised its full fiscal year net bookings target to a range of $6.4 billion to $6.5 billion, up from analyst expectations of $6.18 billion, indicating a projected growth of 14% over fiscal 2025 [5] - Take-Two also guided for adjusted earnings of $3.17 per share for the full year, surpassing the consensus estimate of $2.90 [5] Stock Market Reaction - Following the earnings report and game delay announcement, TTWO stock fell over 7% in after-hours trading, closing at $233.75, after a 0.9% decline during the regular session [6]

Core Viewpoint - The delay of Grand Theft Auto 6 has significantly impacted the company's stock performance, leading to a nearly 11% drop in shares [3]. Group 1: Game Release Impact - Grand Theft Auto 6 has been delayed from May 26, 2025, to November 2026, marking the second delay for this highly anticipated game [1]. - The delay does not affect the current fiscal year, but future guidance for the next fiscal year may be adjusted due to this change [2]. Group 2: Market Reaction - The stock has reacted negatively to the news of the delay, with shares down nearly 11% [3]. - Despite the delay, the game is expected to be a major seller upon release, reflecting high anticipation from consumers [2].

out and that stock is tanking too. So Steve Kovak has those numbers. Steve.>> Yeah. Let me tell you why here, Morgan. It's not because of the quarter that they just reported.Those numbers look good. It's the further delay of Grand Theft Auto 6. It was supposed to come out of May 26 next year.They're now delaying that to November of 2026. This is the second delay for this game. And so you see shares reacting there.This does not affect their current fiscal year, but you can imagine that once we get guidance f ...

The delay of the next iteration of one of its most popular franchises pulled the video-game developer's stock down in after-hours trading, despite an increased full-year financial view. ...

Core Insights - Take-Two Interactive reported Q3 CY2025 revenue of $1.77 billion, a 20.3% year-on-year increase, exceeding analyst expectations by 3.8% [1][6] - The company raised its revenue guidance for the full year to $6.43 billion, reflecting a 4.6% increase from previous estimates [6] - The release date for Grand Theft Auto VI is set for November 19, 2026, which is anticipated to drive future revenue growth [3][6] Financial Performance - GAAP loss per share was $0.73, which was 17.1% below analysts' consensus estimates of -$0.62 [1][6] - Adjusted EBITDA was reported at $116.7 million, significantly missing analyst estimates of $288 million, resulting in a 6.6% margin [6] - Free Cash Flow improved to $96.5 million, up from a negative $69.8 million in the previous quarter [6] Growth Outlook - The company has achieved a compounded annual growth rate of 13.9% in sales over the last three years, indicating strong long-term performance [5] - Take-Two's Chairman and CEO expressed confidence in achieving record levels of Net Bookings in Fiscal 2027, supported by a robust pipeline of upcoming titles [3][4] - The company is particularly optimistic about growth in mobile gaming and the NBA 2K franchise [3]