Take-Two stock rises on 'unprecedented' preorders for 'Grand Theft Auto VI'

Investors are revving their engines for the release of "Grand Theft Auto VI." Take-Two Interactive's ( TTWO ) stock was up more than 8% on Tuesday morning despite the video game studio's less-than-stellar Q2 earnings release.

On Monday, the company reported revenue of $1.5 billion for the second quarter, down from $1.77 billion a year prior and missing analyst expectations of $1.65 billion, according to S&P Global Market Intelligence.

But traders seem willing to hold tight until Nov. 19. Much of Take-Two's success for the year hinges on what happens over the next two weeks with the eagerly anticipated and much-delayed release of "Grand Theft Auto VI." On Monday, Take-Two said it expects fiscal year 2027 to be "historic."

"Preorders for Grand Theft Auto VI are tracking far in excess of our initial expectations," CEO Strauss H. Zelnick said. "We know that the numbers will speak for themselves soon enough … with pre-orders continuing to reach unprecedented levels."

Interestingly, that's also what the company said in August on its Q1 earnings call.

While Q2 results showed net bookings down 18%, the company boosted its full-year revenue outlook to between $7.98 billion and $8.18 billion, driven by early success with GTA VI preorders.

The launch of the game was punted twice, first to May 2026 and then to November. The previous iteration, "Grand Theft Auto V," was released in 2013, making this a very long-awaited sequel. For context, the time between GTA IV and V was just over five years.

Following these delays, the stock has whipsawed over the past year, down more than 12% since January.

On Monday, the company reported a second quarter loss of $54 million, or $0.29 per share, and announced that another top game, "NBA 2K27," has sold over 4 million units since its release in September — coming in below expectations. The GTA franchise remains the central driver for Take-Two, with the video game studio leaning on the upcoming launch to offset the softer "NBA 2K27" contribution.

"[GTA VI] promises to be not only highly engaging but in fact, the biggest and most detailed groundbreaking experience Rockstar Games has ever created," Zelnick said. "We believe that fiscal 2027 will be an historic year for Take-Two."