🔹 Adj. EPS: ($0.07) (Est. $0.28) 😕
🔹 Revenue: $1.50B (Est. $1.31B) 🟢
🔹 Net Bookings: $1.42B (Est. ~$1.31B) 🟢; +17% YoY
FY26 Guidance (Raised)
🔹 Net Bookings: $6.05B–$6.15B (Est. $6.04B) 🟢
🔹 Revenue: $6.10B–$6.20B
🔹 Adj. EBITDA: $554M–$613M
🔹 GAAP EPS: ($2.40) to ($2.05)
🔹 Net Cash from Ops: ~$130M
🔹 CapEx: ~$140M
Q2’26 Outlook
🔹 Revenue: $1.65B–$1.70B
🔹 Net Bookings: $1.70B–$1.75B
🔹 Adj. EBITDA: $117M–$140M
🔹 GAAP EPS: ($0.75) to ($0.60)
Other Q1 Metrics:
🔹 Recurrent Consumer Spending: +17% YoY; 83% of Net Bookings
🔹 FCF: Not disclosed for Q1; FY26 guide at ~$130M Op Cash
Q1 Top Contributors to Bookings & Revenue
🎮 NBA 2K25
🎮 GTA V & GTA Online
🎮 Toon Blast, Match Factory!, Color Block Jam
🎮 Empires & Puzzles, Red Dead Redemption 2 & Online
🎮 Words With Friends, Toy Blast
Product Pipeline Highlights
🔸 Mafia: The Old Country – Aug 8, 2025
🔸 NBA 2K26 – Sept 5, 2025
🔸 Borderlands 4 – Sept 12 (console), Oct 3 (Switch 2)
🔸 Grand Theft Auto VI – May 26, 2026
🔸 WWE 2K26, CSR 3, Judas, Project ETHOS – TBA
CEO Commentary – Strauss Zelnick
🔸 “Q1 outperformance driven by diversified franchise strength.”
🔸 “We’re raising FY26 guidance with high confidence in our multi-year pipeline.”
🔸 “Most ambitious release slate in company history.”
