What you need to know
- Take-Two Interactive has reported is Q2 financial results for fiscal year 2021.
- The company now expects to make $3 billion by the end of the year.
- Digital sales grew 14% for the quarter to $791.7 million, accounting for 83% of sales.
Take-Two Interactive continues to see surging sales according the Q2 financial results for fiscal year 2021 released today.
"Our positive momentum continued in the fiscal second quarter with operating results that significantly exceeded our expectations," Take-Two CEO Strauss Zelnick said in a press release. "Our terrific results were highlighted by the outperformance of NBA 2K, PGA TOUR 2K21, and the Mafia: Definitive Editions and Mafia: Trilogy, reflecting our ability to deliver consistently the highest quality entertainment experiences to consumers."
Total sales and services sold during the quarter grew to $957.5 million, compared to $950.5 million during the same time last year. The largest contributors to those numbers were NBA 2K21 and 2K20, Grand Theft Auto Online, and Grand Theft Auto V.
While gamers might be frustrated by subscriptions and microtransactions, the financial report shows why they remain a vital part of Take-Two's strategy. Spending on virtual currency, add-on content, and in-game purchases increased 56% in Q2, accounting for 59% of the company's net revenue. The NBA and Grand Theft Auto games also led these transactions.
The company has updated its financial forcast for the year and expects to earn $3 billion. That will likely be helped by the purchase of games for the next-gen consoles releasing later this month.
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The latest and greatest
Pick up the newest entry in the NBA 2K series now and immerse yourself in the sport with upgraded gameplay. A version will also be release for the PS5.
Between in-game/microtransactions and the $10.00 price hike for next-gen games, Take Two's revenues are only going to continue to go up. Great for investors. Bad for gamers.
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