When Does Take-Two Report Earnings? August 7, and the Quarter Being Reported Barely Matters

TL;DR

• Take-Two reports first-quarter fiscal 2027 before the open on Friday, August 7, with the call at 8:00am ET. The quarter ended June 30.
• Bookings for the quarter are forecast to fall about 4% year over year, mostly on mobile weakness. This is a filler quarter and everyone knows it.
• The year is one date. Full-year fiscal 2027 net bookings guidance is $8.0bn to $8.2bn, about 20% growth on fiscal 2026's $6.72 billion, and the Grand Theft Auto franchise is expected to be roughly 36% of it.
• GTA VI launches November 19, 2026. Pre-orders opened June 25 at $79.99 standard and $99.99 Ultimate, which is inside the quarter being reported.
• Analysts model more than 40 million units in fiscal 2027 and full-year EPS of $5.21, up 89.5%. The stock closed $242.92 on July 31, below its $265.94 high set on July 7.

When Does Take-Two Report Earnings?

The short answer: before the market opens on Friday, August 7, 2026, with the conference call at 8:00am ET.

That is 30 minutes before the July jobs report, so the call will still be running when payrolls print. Take-Two shares Friday morning with Vistra, PPL, Oklo and ACM Research.

What the Street Expects

Line	Q1 FY2027 and the year	Comparison
Q1 net bookings	forecast down about 4%	mobile weakness
FY2027 net bookings guidance	$8.0B to $8.2B	about 20% growth on $6.72B
GTA franchise share of that guide	~36%
FY2027 consensus EPS	$5.21	up 89.5% from $2.75
GTA VI unit forecast, FY2027	more than 40 million
GTA VI launch date	November 19, 2026	fiscal Q3
July 31 close	$242.92	52-week high $265.94 on July 7
Options implied move	~7.7%	large, for a quarter guided to shrink

The Board

A quarter guided to shrink, inside a year guided to grow 20%, on one release date in November.

One Company, One Date

There is no polite way to say this and no reason to be polite about it. Take-Two's fiscal 2027 is Grand Theft Auto VI, and everything else is scenery.

The arithmetic is straightforward. Guidance is $8.0bn to $8.2bn of net bookings, up about 20% on fiscal 2026's $6.72 billion. The GTA franchise is guided at roughly 36% of that, which is somewhere close to $2.9 billion at the midpoint from one series, including Grand Theft Auto Online and the back catalogue as well as the new release. Analysts model more than 40 million units of GTA VI in the fiscal year.

Now put the quarter being reported next to that. Q1 bookings are expected to fall about 4%, and the softness is in mobile, where several titles are slowing. That is a genuinely weak quarter, and it will move this stock less than almost any earnings release you will see this month.

Because the only question anybody has is: how are pre-orders going?

The Pre-Order Number They Probably Will Not Give You

Pre-orders opened June 25, 2026, inside the quarter being reported, at $79.99 for the standard edition on PlayStation 5 and Xbox Series X|S and $99.99 for an Ultimate Edition with cosmetic extras.

This is the first earnings call since that window opened, so it is the first opportunity for management to say something about demand. Expect them not to. Publishers almost never disclose pre-order counts, for a straightforward reason: a number that looks enormous today becomes the bar the launch has to clear, and a number that looks merely large gets read as a disaster.

What you should watch for instead, in order of usefulness:

1. Any change to the $8.0bn to $8.2bn guidance. Raising it before launch would be an extraordinary signal of confidence. Most likely it is simply reiterated, and reiteration alone is a positive because it confirms the November date.
2. Confirmation of November 19. This franchise has been delayed before. The date holding is worth more than any quarterly number on the page.
3. Deferred revenue and the balance sheet. Pre-orders paid up front show up as deferred revenue rather than as bookings. It is an imperfect proxy, it is affected by platform payment timing, and it is the closest thing to a real pre-order number that will exist in the filing. Read it as a direction, not a level.

The Thing That Already Went Wrong

When pre-orders launched, the stock fell 2.8%. The trigger was not the price. It was that no online mode was confirmed at launch.

That reaction was rational and it is the most underrated risk in this entire investment case. Grand Theft Auto Online, not Grand Theft Auto V, is what made the last cycle extraordinary. The single-player game sold enormously well once. The online mode generated recurrent consumer spending for more than a decade and turned a hit product into an annuity.

A GTA VI that ships without its online component ships with the unit sales and without the annuity, at least initially. Forty million units at $80 is a spectacular quarter. It is not a spectacular decade. The valuation embedded in this stock assumes the decade.

Is Take-Two a Buy Before the Biggest Launch in Entertainment?

No, not at $242.92 three months before launch, and the reason is that the good outcome is already in the price and the bad one is not.

The stock is near its all-time area, having set a 52-week high of $265.94 on July 7. Consensus already models more than 40 million units, full-year EPS up 89.5%, and 20% bookings growth. You are not buying a company the market has underestimated.

The bull case is that GTA VI is not a game launch, it is a cultural event with no comparable, that 40 million units is conservative for the most anticipated entertainment product ever made, and that once online arrives the recurrent spending resets Take-Two's earnings base permanently upward.

The bear case is a list of ways the price already assumes all of that. A delay announcement, even a short one, takes the launch out of fiscal 2027 entirely and removes 36% of the guidance in a single press release. A launch without online caps the annuity. And an $80 base price into a consumer producing 57,000 payrolls a month has more elasticity risk than the pre-order enthusiasm suggests.

The practical position: the asymmetry improves after November 19, not before it. Historically, blockbuster launches are sell-the-news events for the publisher's stock, because the anticipation is tradeable and the delivery is merely confirmatory.

The Options Angle

• This is the rare earnings print where the fundamental event is not the earnings. Q1 bookings are guided down and nobody cares. The reaction will be set by one sentence about November 19, which is a binary headline rather than a distribution of outcomes.
• Options price a move of about 7.7%, which is a lot for a quarter everybody expects to shrink. That premium is not being paid for the numbers, it is being paid for the chance that management says something about the launch date or pre-orders.
• That argues against buying an at-the-money straddle and in favour of a cheap out-of-the-money put as delay insurance for holders. The tail risk here is one-sided: confirmation of the date moves the stock a little, and a delay moves it a lot.
• At $242.92, one contract is $24,292 of notional, which removes covered calls from most retail accounts. Fractional options do not exist, the same constraint that applies to Datadog and Caterpillar this week.
• The call runs through the payrolls print at 8:30am. Anything you plan to trade on the commentary will be trading against a macro number at the same moment.
• Live option prices could not be sourced at the time of writing, so the plays below are quoted against the July 31 close.

Trade log

#	Stance	Structure	Strikes and expiry	Cost or credit	Spot at writing	Implied move	Breakeven
1	Hedge, holders only	Out-of-the-money put	~$215 strike, expiry after Nov 19, 2026	debit not sourced	$242.92 (Jul 31, 2026 close)	±7.7% on the Aug 7 print	pays below $215, −11.5%
2	Pass	Buying the shares into the launch	n/a	n/a	$242.92	±7.7%	scored against the Nov 19 launch reaction
3	Pass	Long straddle into the Aug 7 print	at-the-money weekly	~7.7% of spot	$242.92	±7.7%	needs a move beyond ±7.7%, about $18.70

Rows 2 and 3 are logged as passes so they get scored. We are saying the launch is priced and the quarter is not tradeable, and both calls lose if Take-Two gaps on Friday morning.

The One-Line Read

Take-Two reports fiscal Q1 2027 before the open on Friday August 7 with bookings expected to fall about 4% on mobile weakness, and the quarter is close to irrelevant: full-year guidance of $8.0 to $8.2 billion depends on the Grand Theft Auto franchise for roughly 36% of the total and on a single release date of November 19, so the only sentences worth reading are the ones confirming that date and, if anyone can extract it from the deferred revenue line, how many people have already paid $79.99 for a game that has not yet confirmed an online mode.