GTA 6 Development Complete, Future Plans, PC Release & More: Take-Two Earnings Call Roundup

During its latest earnings call, Take-Two Interactive confirmed that development of GTA 6 is complete. They also discussed its unprecedented pre-orders, marketing, the future of GTA Online and much more.

Take-Two Interactive has published its second-quarter fiscal 2027 financial results, offering another positive update on Grand Theft Auto VI ahead of its highly anticipated launch on November 19, 2026.

With just ten days remaining until release, Take-Two Chairman and CEO Strauss Zelnick revealed that GTA 6 pre-orders are continuing to reach unprecedented levels, with the company expecting a historic financial year.

"The launch of Grand Theft Auto VI is ten days away and, with pre-orders continuing to reach unprecedented levels, we expect to deliver an historic year for our company."

Take-Two has reiterated its forecast of $8 billion to $8.2 billion in Net Bookings for the fiscal year ending March 31, 2027, reflecting its confidence in the upcoming release.

The company also reaffirmed that Grand Theft Auto VI will launch on November 19, 2026, for PlayStation 5 and Xbox Series X|S, with no changes to its previously announced release schedule.

Grand Theft Auto Remains a Major Contributor

Take-Two reported Net Bookings of $1.60 billion for the quarter ending September 30, 2026, down 18% compared to the same period last year.

Despite the decline, the Grand Theft Auto series remained among the company's largest contributors to Net Bookings and revenue, alongside NBA 2K and other major franchises.

Looking ahead, Take-Two expects Net Bookings of $3.35 billion to $3.5 billion for the quarter ending December 31, 2026, which will include the launch of GTA 6.

The financial report also acknowledged the release of GTA Online's Kortz Center Heist summer update on July 14, 2026.

Take-Two's latest results mark its final quarterly earnings announcement before the arrival of Grand Theft Auto VI, with the company maintaining its optimistic outlook as Rockstar Games prepares for launch.

Source: Take-Two Interactive Q2 Fiscal 2027 Financial Results, November 9, 2026.

More Details from Take-Two's Earnings Call Q&A

Following the prepared financial results, Take-Two CEO Strauss Zelnick, President Karl Slatoff and CFO Lainie Goldstein answered questions from analysts about Grand Theft Auto VI, Rockstar Games and the company's future plans. The discussion provided several additional insights into the game's development, launch expectations and what could come next.

GTA VI development and launch

• Rockstar Games has officially completed development of GTA VI.
• Rockstar's immediate priority is ensuring an excellent technical delivery of the game to consumers.
• Zelnick said Rockstar has done its very best work on GTA VI.
• GTA VI's marketing campaign is already fully planned and underway.
• Once GTA VI has launched, Rockstar will focus on what's next and announce its plans in due course.
• Take-Two described GTA VI's launch as a defining moment for both the company and the entertainment industry.
• Zelnick described GTA VI as Rockstar's biggest, most detailed and most groundbreaking experience yet.
• Take-Two reiterated the November 19 release date for PS5 and Xbox Series X|S.
• Take-Two confirmed preloads were rolling out worldwide.
• Zelnick expressed confidence that players would enjoy GTA VI over the upcoming holiday season.

Pre-orders, sales and expectations

• GTA VI pre-orders are running far ahead of Take-Two's original expectations.
• Take-Two described the number of pre-orders as extraordinary.
• The company believes GTA VI is one of the most widely anticipated entertainment releases.
• Zelnick said consumer excitement surrounding GTA VI is exceptionally strong.
• He described press coverage of GTA VI so far as universally positive.
• Take-Two actively tracks awareness and anticipation surrounding GTA VI, with both trending very positively.
• Despite strong pre-orders, Take-Two has decided not to increase its financial forecasts ahead of launch.
• Zelnick explained that Take-Two prefers not to declare success before a game has actually launched.
• Take-Two expects to share more information about GTA VI's commercial performance after release.
• Take-Two has considered the current console install base when preparing its GTA VI sales forecasts.
• Zelnick said the company doesn't place excessive importance on predicting the percentage of console owners who will buy GTA VI.
• Take-Two expects GTA VI to help establish a new baseline for its future financial performance.
• Zelnick sees significant opportunities for GTA's commercial growth in the years ahead.
• Take-Two declined to provide financial guidance for fiscal 2028, the year following GTA VI's launch.

GTA VI budget and development costs

• An analyst questioned Take-Two about a reported GTA VI development budget of no more than $1.5 billion.
• Zelnick confirmed Take-Two has never publicly disclosed GTA VI's development budget.
• He cautioned that a figure described as a maximum should not be interpreted as the actual amount spent.
• Zelnick specifically noted that the true amount could be substantially lower than the reported upper limit.
• Take-Two did not clarify whether the reported figure included the development of GTA VI's online component.
• Zelnick acknowledged that Take-Two has invested heavily in GTA VI.
• He expressed hope that the investment would prove worthwhile once the game launched.

GTA VI Online, GTA Online and post-launch content

• Rockstar will continue supporting the existing GTA Online with new content and ongoing events.
• Take-Two continues to include GTA Online in its recurring consumer spending forecasts.
• Take-Two also expects strong sales of GTA VI Ultimate Edition to contribute to recurring spending.
• GTA VI Ultimate Edition includes add-on content that can also be purchased separately.
• The CFO confirmed that the separately purchasable add-on content is counted as recurrent consumer spending.
• Take-Two said its assumptions regarding GTA Online and Ultimate Edition content have not changed since the previous quarter.
• An analyst specifically asked whether players would return to GTA Online's San Andreas map after completing GTA VI's story.
• Zelnick did not directly answer whether Rockstar expects players to return to the existing GTA Online.
• Instead, he emphasised that there is always more to do in Grand Theft Auto, even after completing the main story.
• Zelnick suggested GTA VI would provide plenty of reasons for players to remain engaged after finishing its missions.
• Take-Two considers ongoing player engagement between major game releases a central part of its strategy.
• Zelnick believes successful franchises can generate substantial demand for additional content.
• He said technology can help accelerate content development, player engagement and marketing.
• However, he did not confirm more frequent GTA VI updates or shorter gaps between major Rockstar releases.
• Take-Two expects live-service engagement to remain a major part of its business alongside blockbuster launches.

PC, streaming and other platforms

• An analyst asked whether rising console hardware prices could encourage an earlier GTA VI release on PC or streaming platforms.
• Zelnick declined to discuss future GTA VI platforms or release schedules.
• He reiterated that announcements about additional versions would come from Rockstar.
• Zelnick separately confirmed that GTA VI would initially launch on two consoles.
• Asked about differences between PC and console players, Zelnick said experiences across the platforms are generally similar.
• He argued that modern PC capabilities are not materially different from console capabilities in general, while acknowledging that this varies by game.
• Take-Two sees streaming technology as a potential way to significantly expand the video game market.
• Zelnick believes streaming could help publishers reach consumers who cannot afford the latest gaming hardware.
• Take-Two is interested in expanding its audience in India, Africa, Latin America and other underrepresented markets.
• Zelnick said the company's business remains heavily concentrated in the United States, United Kingdom and Western Europe, alongside selected Asian markets.
• Take-Two sees major opportunities to reach players in regions where its games currently generate relatively little revenue.

FiveM, NoPixel, modding and piracy

• Take-Two confirmed that FiveM is a profitable business.
• Zelnick said Take-Two's acquisition of FiveM reflected its support for players who want to create content using Rockstar's intellectual property.
• Take-Two is enthusiastic about the launch of NoPixel V.
• Zelnick described NoPixel V as a professional evolution of the roleplaying business acquired through FiveM.
• Hundreds of thousands of players are engaging with GTA through roleplaying experiences.
• Take-Two believes there are further opportunities for growth in roleplaying and user-generated content.
• Zelnick said the company wants to support players creating content with its intellectual property where possible.
• Take-Two has permitted modding in numerous other games.
• Zelnick indicated the company does not have a rigid, universally restrictive position on modding.
• An analyst raised the subject of console jailbreaking and players modifying their own copies of games.
• Zelnick responded by highlighting FiveM and the economic opportunities created by supporting player creativity.
• Take-Two is concerned about the growing capabilities of AI-assisted reverse engineering and game decompilation.
• Zelnick believes piracy has historically been difficult for large modern games because of file sizes, technical complexity and server connectivity.
• He acknowledged that technological advances could make piracy more challenging for publishers to manage.
• Take-Two is strengthening both its technical protections and legal efforts against piracy.
• Zelnick nevertheless believes these challenges will remain manageable.

Artificial intelligence and Rockstar's future

• Zelnick believes technological advances generally benefit Rockstar and Take-Two.
• He expects improvements in technology to continue accelerating development processes.
• AI and other technologies are making digital asset creation easier.
• However, Zelnick believes creating commercially successful games remains extremely difficult.
• He emphasised that human creativity, rather than technology alone, is responsible for successful entertainment.
• Take-Two sees technology as a tool for supporting creativity rather than replacing it.
• Zelnick believes there is still considerable room for innovation in interactive entertainment.
• He suggested the industry has not yet approached the limits of what video games can creatively achieve.
• Take-Two is exploring several undisclosed strategic initiatives, some of which Zelnick described as extremely substantial.
• The company continues to invest in new intellectual property alongside its established franchises.

GTA VI marketing and promotional activity

• Take-Two confirmed that its GTA VI marketing campaign is performing positively against internal awareness and anticipation measures.
• The company highlighted the worldwide scale of GTA VI's promotional campaign.
• Take-Two said GTA VI's extended preview on Netflix attracted 31 million viewers in its first four days.
• The preview was described as Netflix's most-viewed title of its debut week.
• Take-Two highlighted GTA VI's magazine features and cover stories as part of its marketing.
• Three tracks from GTA VI's official soundtrack debuted in the top 10 of their respective Billboard charts.
• The company highlighted its partnership with the NBA for the Miami Heat's special Vice City-themed game.
• Take-Two also referenced the numerous in-person GTA VI marketing activations taking place in Miami.
• Most of GTA VI's marketing expenditure will fall within Take-Two's fiscal third quarter, ending December 2026.
• Additional GTA VI marketing is expected to continue into the fourth quarter, covering January through March 2027.
• Take-Two expects marketing costs associated with GTA VI to be a major driver of increased operating expenses.

GTA V and the wider Grand Theft Auto franchise

• GTA V has now sold nearly 235 million copies worldwide.
• GTA V continues to attract new players despite being more than 13 years old.
• The Grand Theft Auto series exceeded Take-Two's financial expectations during the latest quarter.
• Grand Theft Auto recurrent consumer spending increased by a double-digit percentage year over year.
• GTA+ average monthly membership also grew by a double-digit percentage.
• Take-Two attributed continued engagement partly to The Kortz Center Heist, monthly events, races and other GTA Online content.
• Rockstar supported the launch of NoPixel V with exclusive GTA Online rewards for viewers of selected Twitch roleplaying streams.
• The Grand Theft Auto series remains one of Take-Two's largest expected contributors to net bookings.

Financial and business details

• Take-Two reaffirmed its forecast of $8 billion to $8.2 billion in net bookings for fiscal 2027.
• The company expects third-quarter net bookings of $3.35 billion to $3.5 billion, compared with $1.76 billion in the equivalent quarter last year.
• Take-Two expects approximately 37% of its full-year net bookings to come from Rockstar Games, 34% from Zynga and 29% from 2K.
• The company expects GTA VI Ultimate Edition sales to help drive a significant increase in recurrent consumer spending during the third quarter.
• Take-Two expects operating cash flow to exceed $1 billion during the fiscal year.
• Zelnick believes the company can achieve higher long-term earnings through additional content, streaming, new geographical markets and acquisitions.
• Take-Two has 15 PC and console franchises that have each sold at least five million copies of an individual release.
• Zelnick said the company has numerous major strategic initiatives under consideration or development, but declined to disclose their details.

Source: Take-Two Interactive Q2 FY2027 earnings call, November 9, 2026, as transcribed by Investing.com.