Officials from American video game retailer GameStop have announced the company’s second quarter results for the period ended July 31, which show that net income has risen to $7.7 million, or 13 cents a share, from $6.6 million, or 11 cents, a year ago.
Sales for the company increased 13% to $345.6 million, while same-store sales declined 2.4%, in line with expectations. New store sales performance however exceeded expectations.
The company said it saw a 17% increase in video game software sales, helped by titles such as NCAA Football 2005
and Spider-Man 2
Full-year earnings predictions have remained the same at $1.20 to $1.24 a share, higher than the $1.06 a share recorded a year ago. Wall Street analysts have projected earnings of $1.23.
Source: iWon Money