- Rockstar delays GTA VI launch to November 19, 2026, citing the need for additional polish; the news triggered an initial 18 per cent after-hours drop in Take-Two Interactive (NASDAQ:TTWO) shares
- Despite the delay, Take-Two posted strong Q2 results, with adjusted EPS of US$1.46 (vs. $0.94 expected) and revenue of US$1.96B, up 33 per cent year-over-year in net bookings
- Analysts maintain bullish targets (up to US$300) on long-term franchise strength, though investor sentiment hinges on GTA VI’s timely release and reception
- Take-Two Interactive Software stock (NASDAQ:TTWO) opened trading at US$232.03
Take-Two Interactive Software’s (NASDAQ:TTWO) shares fell sharply after Rockstar Games confirmed another delay for Grand Theft Auto VI, moving its release date to November 19, 2026.
The announcement, made during Take-Two’s fiscal Q2 earnings call, acknowledged the already extended development timeline and emphasized that the additional months are intended to ensure the game meets Rockstar’s “typical level of polish.”
The market reaction was swift. TTWO stock plunged as much as 18 per cent in after-hours trading, hitting lows near US$219.87 from a prior close of US$252.50, as investors weigh the implications of the delay on near-term revenue expectations.
Strong Q2 results overshadowed by delay
The setback came alongside otherwise robust quarterly performance. Take-Two reported adjusted EPS of US$1.46, beating analyst estimates of $0.94, on revenue of US$1.96 billion, ahead of the US$1.74 billion consensus. Net bookings surged 33 per cent year-over-year to US$1.96 billion, driven by strong engagement across franchises. Recurrent consumer spending rose 20 per cent, now accounting for 73 per cent of total bookings, supported by titles such as NBA 2K26, Mafia: The Old Country, and mobile offerings.
Despite these results, the GTA VI delay dominated investor sentiment, overshadowing the earnings beat and reinforcing concerns about Take-Two’s reliance on Rockstar’s flagship franchise.
Analyst targets remain bullish
Wall Street remains broadly optimistic on Take-Two’s long-term outlook. Jefferies, Benchmark, and DA Davidson reiterated Strong Buy ratings with targets near US$300, while Wells Fargo trimmed its target to US$277 but maintained a Buy stance. CICC initiated coverage at US$272, citing Take-Two’s position as a beneficiary of long-cycle franchise economics despite extended development timelines.
Looking Ahead: Launch valuation scenarios
Investor focus now shifts to the valuation trajectory leading into GTA VI’s eventual release. Based on historical patterns and the growing global install base, forward models suggest TTWO could trade near US$247.50 by the scheduled launch date—assuming the game ships on time and earns favorable reviews. Conversely, another delay could see shares retrace toward the US$160s before stabilizing.
Rockstar confirmed that GTA VI will return players to Vice City, featuring protagonists Jason Duval and Lucia Caminos in a sprawling Miami-inspired setting. While the delay adds uncertainty, the title remains one of the most anticipated releases in gaming history.
Take-Two Interactive Software stock (NASDAQ:TTWO) opened more than 5 per cent lower at US232.03.
Join the discussion: Find out what everybody’s saying about this stock on the Take-Two Interactive Software Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
