Take-Two Interactive posted $1.53 billion in revenue for Q1 FY2027, a 2% year-over-year increase that beat the publisher's own earlier forecast of a decline.

The three-month period ran from April 1 to June 30, 2026. Net bookings — the deferred-revenue figure analysts track more closely than headline revenue — fell 3% to $1.39 billion. Net losses widened 186% year-over-year to $34.1 million. Take-Two attributed part of that loss to ceasing involvement in development of an unannounced third-party studio project.

What drove the platform mix?

Recurrent consumer spending — DLC, microtransactions, in-game advertising and similar — generated 84% of quarterly revenue. Platform splits:

• Mobile: $762.3 million (down 5% year-over-year)
• Console: $640.5 million (up 16%)
• PC: $131.1 million (down 13%)

Mobile remained the largest single revenue bucket despite the slide, with Zynga and Rollic carrying the casual portfolio. Console growth reflects continued tail sales on legacy releases and NBA 2K's annual release cadence.

The split marks a continued shift toward console since the 2023 fiscal year, when mobile contributed closer to two-thirds of revenue at Take-Two. PC's 13% drop lines up with a typical post-launch decay curve for catalog titles and is unlikely to attract management commentary.

Where do catalog units stand?

Take-Two refreshed lifetime sell-through across its flagship franchises:

• Grand Theft Auto V: 230 million copies; series total 475 million
• Red Dead Redemption 2: 87 million copies; series total 116 million
• NBA 2K series: 175 million copies

Rollic's mobile catalog passed 3.9 billion cumulative downloads. Color Block Jam led the cohort at 72 million, followed by Timeline Up! at 17.8 million, Crowd Express at 9.3 million, Gecko Out at 8.5 million, and Knit Out at 6.8 million.

The GTA V figure now sits 30 million copies above its 200 million milestone in late 2023, extending what is already the longest tail in commercial game history. RDR2 continues to print roughly 1-2 million additional units per year seven years after launch.

What's the GTA VI status?

GTA VI remains on schedule for November 19. The publisher declined to disclose preorder totals, leaving analysts, retail partners, and platform holders without the early demand signal they typically extract from Rockstar launches. Console bookings strength during the quarter suggests continued spend on the existing catalog rather than front-loading on GTA VI preorders.

The absence of a preorder figure stands out. Competitors usually publish early read-throughs in the quarters preceding major releases, and Take-Two's silence removes a key benchmark ahead of the November window. Any update would land either in late Q2 results or via a press cycle closer to launch.

What changed operationally?

The third-party project cancellation is the report's most concrete operational decision. Take-Two did not name the partner studio or the title in development, and the associated writedown contributed to the 186% loss expansion. The publisher has now posted losses across multiple consecutive quarters without returning to net profitability, even as revenue grows modestly against prior-year comps.

The 84% reliance on recurrent consumer spending underscores how much of Take-Two's operating model still depends on live-service monetization, particularly through Zynga and Rollic on mobile and GTA Online on console and PC. Sustained softening in mobile recurring spend would directly compress publisher margins, since Zynga-era casual titles carry lower per-user ARPDAU than core console releases.

What should studios and investors watch next?

Three signals worth tracking before the next earnings call: any disclosure on the third-party project's accounting treatment, a preorder update tied to GTA VI's November launch window, and Q2 guidance covering the holiday selling season. The console-versus-mobile divergence also bears watching — a deeper mobile slide narrows the publisher's path back to profitability in FY2027 even with GTA VI revenue expected to land in fiscal 2028.

Mobile's 5% decline merits attention. Rollic's catalog now drives most of Zynga's growth narrative, and the publisher's casual mobile hit rate, measured by new titles reaching the 10 million-download threshold, has cooled since the 2022-2023 acquisition window. Only Color Block Jam in the reported cohort clears 50 million.

Take-Two's path to profitability now hinges on GTA VI's launch reception and the durability of mobile recurring revenue through the back half of fiscal 2027.