Take-Two Shares Drop After GTA VI Pushed to Nov. 19, 2026

Take-Two Interactive shares fell sharply in after-hours trading after Rockstar Games announced a further delay to Grand Theft Auto VI, moving the launch to Nov. 19, 2026. The publisher said the extra months will let developers finish the title to the level of polish players expect. The market reaction came even as Take-Two reported stronger-than-expected second-quarter revenue of $1.96 billion. Management raised its fiscal-year bookings outlook and highlighted momentum across mobile and NBA 2K despite the postponement.

Key takeaways

• Take-Two shares dropped about 7% in after-hours trading on Thursday following Rockstar’s delay announcement to Nov. 19, 2026.
• Rockstar said the delay buys “extra months” to finish GTA VI to the expected level of polish; the game’s first trailer debuted in December 2023.
• Take-Two reported Q2 revenue of $1.96 billion, a 33% year-over-year increase versus LSEG estimates of $1.72 billion.
• The company posted a net loss of $133.9 million, or $0.73 per share, compared with a loss of $365.5 million, or $2.08 per share, in the same quarter last year.
• Take-Two raised its fiscal-year bookings outlook to $6.38 billion–$6.48 billion, with a midpoint of $6.43 billion above Wall Street’s $6.18 billion projection.
• Management attributed revenue growth to titles including NBA 2K26, Borderlands 4 and Red Dead Redemption 2 and noted NBA 2K has sold-in more than 167 million units worldwide.

Background

Grand Theft Auto VI has been one of the industry’s most closely watched releases since Rockstar unveiled the first trailer in December 2023. The game was originally planned for a fall 2025 release but has experienced multiple delays, including a public postponement announced in May 2025. The franchise’s scale—open-world design, cinematic production values and high development costs—has increased scrutiny on timing and polish ahead of launch windows that maximize revenue.

Take-Two, Rockstar’s parent company, has increasingly emphasized a broader pipeline that includes live-service titles, mobile initiatives and established franchises such as NBA 2K. Investors watch GTA VI not only for direct sales but for its potential to drive long-term engagement and recurring revenues through post-launch content. That potential makes schedule changes material to market expectations for fiscal-year timing and cash flow.

Main event

On Thursday Rockstar Games posted that Grand Theft Auto VI will now arrive on Nov. 19, 2026, citing additional development time to reach the degree of polish players expect. The company framed the move as a final stretch rather than a sign of systemic issues, saying the extra months will help complete the game’s finishing touches. The new date is concrete; Rockstar did not provide a narrower window or new milestones beyond the Nov. 19 target.

The announcement immediately affected investor sentiment, with Take-Two shares declining roughly 7% in after-hours trading. Traders and equity analysts often price blockbuster game releases into near-term revenue and cash-flow models; pushing a marquee title back by roughly a year alters those timing assumptions. Despite the sell-off, some investors noted the company’s wider product lineup and updated bookings guidance when assessing the longer-term picture.

Take-Two reported its fiscal second-quarter results the same day. Revenue rose 33% to $1.96 billion, exceeding LSEG estimates of $1.72 billion, a beat the company said reflected strong catalog performance and recent releases. The quarter still showed a net loss of $133.9 million, or $0.73 per share, an improvement from the prior year’s $365.5 million loss. Management highlighted catalog strength and ongoing momentum as reasons for confidence.

Analysis & implications

The delay shifts some near-term revenue expectations tied directly to GTA VI into fiscal 2027 while preserving the prospect of a larger, more polished launch that could generate higher long-term lifetime value. From a product-risk standpoint, additional development time can reduce post-launch remediation costs and protect brand reputation, but it also concentrates marketing and monetization plans around a single later date.

Financially, the company’s raised bookings outlook to $6.38 billion–$6.48 billion suggests Take-Two expects other products and platforms—mobile and NBA 2K in particular—to offset the timing gap. The midpoint of $6.43 billion sits above Street estimates, signaling management’s confidence in the pipeline even as GTA VI’s revenue is deferred. Investors will watch fiscal 2027 guidance and quarterly updates closely for concrete revenue cadence tied to the title.

For the broader industry, another delay on a flagship title raises questions about development timelines amid rising teams’ sizes and technical complexity. Competitors may see opportunity windows for releases in the shifted calendar; conversely, the glut of major releases near the new date could increase competition for consumer spending and attention for holiday 2026.

Comparison & data

The table highlights the quarter’s core financial moves: a revenue beat, a narrower loss versus last year, and an upgraded bookings range whose midpoint exceeds Wall Street’s projection. These figures frame why management emphasized pipeline strength even as a marquee release was postponed. Analysts will juxtapose these metrics with free cash flow and cost trends in subsequent filings to assess sustainability.

Reactions & quotes

Rockstar summarized the decision in a public post explaining the rationale for the delay and acknowledging player frustration. The company positioned the change as time needed for finishing work rather than an open-ended setback.

“We are sorry for adding additional time to what we realize has been a long wait, but these extra months will allow us to finish the game with the level of polish you have come to expect and deserve.”

Rockstar Games (public post)

Take-Two’s CEO framed the outlook more broadly, pointing to company-wide momentum and expectations for bookings despite the shifted release slot. Management linked the stronger forecast to multiple business segments beyond the GTA franchise.

“We remain both excited and confident they will deliver an unrivalled blockbuster entertainment experience… With the most robust pipeline in our Company’s history, we expect to achieve record levels of Net Bookings in Fiscal 2027.”

Strauss Zelnick, CEO, Take-Two Interactive (company release)

Unconfirmed

• Whether the delay will materially increase GTA VI’s lifetime revenue versus a 2025 release remains uncertain and will depend on marketing execution and post-launch monetization.
• Take-Two and Rockstar have not disclosed granular internal development issues beyond citing “polish,” so specifics of technical or staffing drivers are unconfirmed.
• The precise contribution of GTA VI to Take-Two’s fiscal 2027 Net Bookings projection is not itemized in the company’s guidance and therefore not independently verified.

Bottom line

The Nov. 19, 2026 launch date for GTA VI pushed a major revenue event out of the near term, prompting a market sell-off despite a solid quarter of revenue and an upgraded bookings outlook. Investors should view the delay as a timing shift that heightens scrutiny on Take-Two’s interim revenue drivers—mobile, NBA 2K and other catalog titles—that management intends to lean on while Rockstar completes development.

Longer term, a polished launch could preserve franchise value and reduce costly post-release patches, but it concentrates risk around a later holiday window. Watch the company’s next quarterly update for more detailed timing about pre-launch marketing, inventory sell-through, and any adjustments to the bookings cadence now that GTA VI’s date is fixed.

Sources

• CNBC — news report summarizing the announcement, earnings and market reaction (media).
• Take-Two Interactive Investor Relations — company filings and releases (official).