REUTERS: Take-Two Interactive Software Inc on Monday raised its fiscal year adjusted sales forecast after beating quarterly estimates on demand for its videogame franchises"Grand Theft Auto" and"NBA 2K" from people stuck at home due to lockdowns.
Recurrent consumer spending on"NBA 2K" jumped 126per cent to a new record, Chief Executive Officer Strauss Zelnick said on an earnings call. Take-Two also forecast adjusted sales above estimates for the second quarter, a period which includes the scheduled launch of"NBA 2K21", the new title in its annualized basketball franchise.How videogame stocks have done this year https://graphics.reuters.com/TAKETWO-RESULT/yzdvxnkbdvx/chart.png
"This is a very modest price increase," Zelnick said."The pricing has been going down on a real dollar basis for the better part of 15 years", he said, adding production costs have gone up"greatly".
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