TTWO · Full Picture

TAKE TWO INTERACTIVE SOFTWARE INC — the full picture

Earnings window · 2026-07-17 to 2026-08-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Gross Margin Drivers · Gross marginPriority 82
    -55.4% operating_income (realized); 3 sources (news, press_release, sec_filing); quote_verified
    Cost of revenue included a $43.4 million impairment charge related to the Company's decision not to proceed with further development of an unannounced title from a third-party developer.
  2. Revenue Performance and Mix · Revenue growth & mixPriority 80
    +200.0% revenue (realized); 3 sources (news, press_release, sec_filing); structured_verified
    Recurrent consumer spending (GAAP net revenue) increased 3% and accounted for 84% of total GAAP net revenue.
  3. Fiscal 2027 Outlook · Guidance & outlookPriority 76
    +6.8% net_income; 4 forward row(s); quote_verified
    Fiscal year ending March 31, 2027 total net revenue outlook is $7,900 to $8,100 million (GAAP).
  4. Liquidity and Debt Position · Liquidity & cash positionPriority 76
    +137.7% assets (realized); quote_verified
    Net change in cash, cash equivalents, and restricted cash and cash equivalents for the three months ended June 30, 2026 was a decrease of $192.0 million.
  5. Operating Expense Trends · Operating expenses (SG&A)Priority 73
    -116.6% operating_income (realized); 2 sources (press_release, sec_filing); quote_verified
    Total operating expenses for the three months ended June 30, 2026 were $918.0 million.
  6. Net Bookings Performance · Demand, orders & backlogPriority 67
    +198.0% revenue (realized); quote_verified
    Total Net Bookings decreased 3% to $1.39 billion compared to $1.42 billion during last year’s fiscal first quarter.
  7. Liquidity and Debt Position · Debt, leverage & refinancingPriority 64
    quote_verified
    As of June 30, 2026, there were no borrowings under the 2022 Credit Agreement and approximately $997.5 available for additional borrowings.
  8. Capital Expenditures · Capital expenditurePriority 63
    -2.7% cash; 2 forward row(s); structured_verified
    During the three months ended June 30, 2026, capital expenditures were $25.0; in fiscal year 2027, we anticipate capital expenditures to be approximately $290.0.
  9. Platform Demand Trends · Demand, orders & backlogPriority 63
    +100.0% revenue (realized); 2 sources (press_release, sec_filing); 1 forward row(s); extracted
    Key assumptions underlying the outlook include continued growth in the installed base of PlayStation 5 and Xbox Series X|S.
  10. Revenue Concentration Risk · Customers & concentrationPriority 63
    1 forward row(s); quote_verified
    Our five largest customers accounted for 82.3% of net revenue during the three months ended June 30, 2026 and 83.5% during the three months ended June 30, 2025.
  11. Guidance / Outlook · Guidance & outlookPriority 59
    -0.4% operating_income; 3 sources (news, press_release, sec_filing); 2 forward row(s); quote_verified
    For the fiscal second quarter ending September 30, 2026, total net revenue outlook is $1,420 to $1,470 million.
  12. Customer Dynamics · Customers & concentrationPriority 54
    qualitative only

Threads by pillar

Revenue & Demand Priority 93 · 9 threads

Costs & Margins Priority 89 · 3 threads

Capital & Balance Sheet Priority 90 · 6 threads

Strategy & Portfolio Priority 29 · 1 thread

Legal, Regulatory & Policy Priority 50 · 1 thread

Guidance & Outlook Priority 81 · 2 threads

Macro & Market Conditions Priority 48 · 3 threads

Unclassified Priority 62 · 3 threads

Expected impact by metric

metricforward netforward grossrealized
net_income+6.8%+6.8%-0.9%
cash-2.7%+2.7%+12.9%
assets+2.7%+2.7%+138.0%
operating_income-0.4%+0.4%-171.9%
margin——-5.4%
revenue——+497.4%
liability——-118.7%