Mobile’s lead narrows at Take-Two, but still represents over half its earnings

Total net bookings dipped 3% year-on-year in Take-Two’s fiscal Q1, with mobile’s share of the business shrinking as console grew.

Mobile remained Take-Two’s single biggest platform in its fiscal first quarter, but its share of the business shrunk a little.

Overall, the publisher’s net bookings hit $1.39bn for the three months to June 30, down 3% year-on-year but above the high end of guidance, driven by what CEO Strauss Zelnick called “the outperformance of NBA 2K and the Grand Theft Auto series” on the earnings call.

Mobile contributed $739.5m of that, or 53% of the total – down from 56% a year earlier – with mobile recurrent consumer spending down 7% for the quarter.

Zelnick attributed the dip largely to a tough comparison against Color Block Jam’s breakout prior-year debut. Asked directly about a mobile slowdown, he said, “No, it’s really not what we’re seeing,” adding only, “a bit of pressure on user acquisition.”

Console grew to 38% of net bookings (up from 33%), helped by NBA 2K and the Borderlands franchise. “PC and other” made up the remaining 9% of net bookings, down from 11%, according to the company’s results.

Elsewhere in mobile, Toon Blast and Words With Friends net bookings both grew 8% year-on-year, while Top Eleven was up 15%. Take-Two also pointed to its mobile direct-to-consumer push, which Zelnick said has had “a material effect positive on our margins in the Mobile business.”

Take-Two posted a GAAP net loss of $34.1m for the quarter, compared to $11.9m a year ago, partly due to a $43m impairment charge after the company scrapped an unannounced third-party title in development.

The company reiterated its fiscal 2027 net bookings guidance of $8–8.2bn, anchored by the November 19 launch of Grand Theft Auto VI, which Zelnick said has had “an exceptional start to preorders” – though he cautioned “we haven’t sold one unit yet. You can cancel a preorder.”