GTA 5, Microtransactions, And The Pandemic Lift Take-Two To A Record Quarter

Take-Two reported its earnings on Monday, and the Grand Theft Auto company is flying high. Take-Two pulled in $831.3 million for its fiscal first quarter, the highest ever amount of money it's made in a Q1 in the company's 26-year history. The uptick in sales was driven by the pandemic--people are staying at home, playing more games, and spending more money on them.

Take-Two's microtransaction business, which is called "recurrent consumer spending," rose by a whopping 52 percent during the quarter to $482,153,999, led by GTA Online, NBA 2K20, Red Dead Online, and Borderlands 3.

"With more people staying at home, we have experienced, and are continuing to experience, heightened levels of engagement and net bookings growth-to-date," Take-Two said. "The full extent of the impact of the COVID-19 pandemic to our business, operations, and financial results will depend on numerous evolving factors that we are not able to predict."

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