Take-Two Interactive Software, Inc. (TTWO)

In August 2025, Take-Two reported strong fiscal first-quarter 2026 results, surpassing expectations due to mobile titles, NBA 2K, and Grand Theft Auto, leading to an upward revision of its full-year net bookings outlook. In November 2025, the company reported outstanding second-quarter fiscal 2026 results, exceeding expectations due to new hit titles, innovation in live services, and strong performance in mobile and NBA 2K, prompting a second consecutive quarterly raise in its Fiscal Year 2026 Net Bookings forecast. The release date for Grand Theft Auto VI was shifted from Fall 2025 to May 26, 2026, causing Take-Two's shares to fall, although investor excitement remains high. Analyst firms have raised their price targets for TTWO, reflecting bullish sentiment.

Demand for Take-Two Interactive's products and services exhibits seasonality, influenced by the broader video game industry's trends. The industry experienced a boom during the COVID-19 pandemic, followed by a stabilization period. Key drivers of demand seasonality include major new game releases, particularly for tentpole franchises like Grand Theft Auto and NBA 2K, often aligning with holiday seasons and academic breaks. The company's mobile gaming segment provides a source of recurring revenue, helping mitigate some of the traditional seasonality associated with physical game sales.

Take-Two Interactive is a global developer, publisher, and marketer of interactive entertainment for platforms like consoles, PCs, and mobile devices. The company operates through publishing labels such as Rockstar Games, 2K, Private Division, and Zynga. Its portfolio includes titles like the BioShock, Borderlands, Civilization, Grand Theft Auto, Mafia, Max Payne, Midnight Club, NBA 2K, PGA Tour 2K, Red Dead, WWE 2K, and XCOM series. Mobile gaming, boosted by the Zynga acquisition, contributes significantly to revenue with titles like Toon Blast and Words With Friends. Revenue is generated from various sources, including game sales, downloadable content, subscriptions, micro-transactions, and advertising.

Take-Two Interactive has a worldwide geographic footprint, with operations in the Americas, Europe, and Asia-Pacific. The United States accounts for approximately 60-61% of its total revenue in fiscal years 2024 and 2025. The company has development studios in countries including Australia, Canada, China, Czech Republic, Hungary, India, Spain, the United Kingdom, and the United States.

Take-Two Interactive's brand reputation was impacted by a fraud investigation initiated by the Schall Law Firm in May 2025, focusing on whether the company issued false or misleading statements regarding the delay of Grand Theft Auto VI. The announcement of this delay caused a significant drop in Take-Two's stock price. Additionally, in May 2024, Take-Two disclosed a business risk related to potential reputational damage if its distributors, retailers, or partners fail to fulfill commitments or compromise the company's brand.

Take-Two Interactive is predominantly owned by institutional shareholders, holding approximately 90.87% of the stock. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., Public Investment Fund, State Street Corp, Jpmorgan Chase & Co, Tiger Global Management Llc, and Geode Capital Management, Llc. Insiders hold about 40.51% of the shares, with Carl C. Icahn being the largest individual shareholder, owning 19.45% of the company's stock. Retail investors hold a negligible percentage.