Take-Two Interactive GTA VI Release and FY27 Guidance

Take-Two reported a strong 4QFY beat and confirmed GTA VI will release in November 2026. While FY27 guidance is below consensus, J.P. Morgan maintains an Overweight rating with a $275 target, viewing the outlook as conservative.

Key Takeaways

• 1.Take-Two Interactive reported a 4QFY beat with bookings of $1.58B, exceeding their guidance of $1.51-1.56B.
• 2.The highly anticipated Grand Theft Auto VI (GTA VI) launch is confirmed for November 2026.
• 3.Initial FY27 bookings guidance of $8.0-8.2B was below consensus ($9.1B), but analysts believe it is conservative as it implies GTA VI units in the mid-to-high 30M range.

Table of Contents

• Summary of 4QFY Results
• Take-Two Interactive Estimate Changes
• Investment Thesis, Valuation and Risks
• Take-Two Interactive: Summary of Financials
• Important Disclosures