- Take-Two generated $1.35 billion this Q2, with net bookings of $1.47 billion
- Operating expenses increased 7% to $1 billion
Stay Informed
Get Industry News In Your Inbox…
Sign Up Today
Take-Two Interactive generated $1.35 billion in net revenue in the second quarter of its 2025 fiscal year, but nonetheless failed to turn a profit.
In the three months ended September 30th, 2024, the GTA publisher delivered $1.47 billion in net bookings, up 20.5% quarter-on-quarter.
Recurrent consumer spending accounted for 81% of those latest net bookings.
Cost of revenue declined, meanwhile, down 29% year-on-year to $625 million, but operating expenses hit $1 billion, up 7%.
Overall, Take-Two made a net loss of $365.5 million.
Mobile manoeuvres
Despite Take-Two’s overall loss, subsidiary Zynga had a “solid” quarter on mobile with Match Factory “scaling rapidly”. Based on net bookings, it’s on track to become Zynga’s second-biggest game this year after growing by roughly 16% over the last quarter.
This has been attributed to Take-Two’s strategic investments in user acquisition and the inclusion of the recent Star Race bold beat.
Toon Blast also demonstrated “fantastic” growth with net bookings up more than 50% year-on-year, marking something of a revenue resurgence.
Zynga also launched the licenced Match-3 title Game of Thrones: Legends in Q2, leveraging serious star power to advertise to fans of the show.
As for recurrent consumer spending, Take-Two’s mobile portfolio saw a “single digits” rise, driven by Match Factory and Toon Blast but hampered somewhat by Empires and Puzzles and a collection of hypercasual games.
While certain standout successes on mobile weren’t enough to turn a profit for Take-Two, the publisher has seen improvement year-on-year. A loss of $543.6 million was recorded in Q2 of its 2024 fiscal year, compared to $365.5 million in Q2 2025.
Net revenue also grew marginally quarter-on-quarter, from $1.34 billion in Q1 to $1.35 billion in Q2.
“I’m pleased to report that we delivered strong second quarter results. Our net bookings of $1.47 billion were at the top of our guidance range, driven by the continued success of the Grand Theft Auto and Borderlands franchises, and our operating results surpassed our plans, largely due to a shift in the timing of marketing expenses within the year,” said Take-Two chairman and CEO Strauss Zelnick.
“With our current success and new titles on the horizon, we are confident in the future outlook of our mobile business.”
Take-Two has projected that Zynga will account for 51% of net bookings across the full fiscal year, while 2K will contribute 32% and Rockstar Games 17%.
