Revenue and earnings
Business performance
In Q2, net bookings grew 2% year-over-year to $1.47 billion. The largest contributions to net bookings came from NBA 2K25 and NBA 2K24, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, the hyper-casual mobile portfolio, Match Factory!, Empires & Puzzles, Words With Friends, Red Dead Redemption 2 and Red Dead Online, and Toy Blast. Recurrent consumer spending increased 8% in Q2.
As mentioned on the quarterly call, TTWO recorded better-than-expected sales for Grand Theft Auto V in Q2. To-date, the title has sold-in more than 205 million units worldwide. It also saw strong engagement for Grand Theft Auto Online. Red Dead Redemption 2 also performed well and has sold-in more than 67 million units to-date. NBA 2K25 has sold-in nearly 4.5 million units to-date. It also delivered double-digit growth in average revenue per user and 40% growth in average games per user.
Zynga performed well in Q2, driven by growth in Match Factory and Toon Blast. Toon Blast saw net bookings increase more than 50% over last year. TTWO is also working on expanding its offerings within its direct-to-consumer business.
Outlook
For the third quarter of 2025, Take-Two expects net bookings to range between $1.35-1.40 billion, with the largest contributions coming from NBA 2K, the Grand Theft Auto series, Toon Blast, the hyper-casual mobile portfolio, Match Factory, Empires & Puzzles, the Red Dead Redemption series, Words with Friends, and Merge Dragons. The company expects recurrent consumer spending to increase by around 9% in Q3. Net revenue is expected to be $1.36-1.41 billion.
For the full year of 2025, net bookings are expected to be $5.55-5.65 billion, representing a YoY growth of 5%. The largest contributors to bookings are expected to be NBA 2K, the Grand Theft Auto series, Toon Blast, the hyper-casual mobile portfolio, Match Factory, Empires & Puzzles, the Red Dead Redemption series, Sid Meier’s Civilization VII, and Words with Friends. Recurrent consumer spending is expected to grow approx. 4%. Net revenue is expected to be $5.57-5.67 billion.