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Take-Two raises guidance as microtransaction spending grows 32%

[2019.11.07, Thu 22:05] Take-Two Interactive reported strong results for the second quarter of its fiscal 2020. 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. "Our positive momentum continued in the second quarter, enabling our company to generate operating results that significantly exceeded our expectations," Take-Two chief executive Strauss Zelnick said. Now, Take-Two is expecting even more for fiscal year 2020. A huge chunk of delivering those results will fall on that aforementioned recurrent consumer spending. "Looking ahead, Take-Two has the strongest development pipeline in its history, including sequels from our biggest franchises as well as exciting new IP. We are actively investing in emerging markets, platforms, and business models, and are exceedingly well positioned to capitalize on the positive trends in our industry and to generate growth and margin expansion over the long-term."
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