Take-Two raises guidance as microtransaction spending grows 32%

Take-Two Interactive reported strong results for the second quarter of its fiscal 2020. The publisher had net revenue of $857.8 million, which is up 74% year-over-year compared to $492.7 million. Most of that growth came from what Take-Two calls “recurrent consumer spending,” which is its term for microtransactions. That category was up 32% year-over-year for the company. It made up 37% of Take-Two’s total net revenue.

In its press release, Take-Two credits a familiar crop of games for getting players to spend more money. Those include Grand Theft Auto Online, Red Dead Online, and the NBA 2K games. Borderlands 3 and NBA 2K20 also contributed significantly to the company’s quarterly revenues.