Take-Two Interactive Blasts Expectations Last Quarter
After being hit hard toward the end of 2018, shares of Take-Two Interactive (NASDAQ: TTWO) have drifted higher in the first half of this year. Investors have been encouraged that the company's core franchises, including Grand Theft Auto and NBA 2K, are keeping players engaged in a crowded field for gaming entertainment.
Take-Two needed to show investors that the increased optimism is warranted, and it did just that. Take-Two reported a stellar 55% increase in recurrent consumer spending on a non-GAAP basis, which includes add-on content and virtual currency that players purchase while playing. This was more than twice the growth management expected, and it sets the company up for a strong year given the new content and games coming later this year.
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Source Fool.com
