PS3 News: GameStop 4th Quarter Profits Leap 46% - PS3 News

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GameStop 4th Quarter Profits Leap 46%

Ever since Electronics Boutique and GameSpot decided to join forces, everything has been coming up roses for the biggest video game retailer in the world.

Of course, it helps a great deal if there are great games to sell. According to the Wall Street Journal, GameStop's fiscal fourth-quarter net income rose 46%, due to "strong game sales and a booming market despite the sluggish economy." GameStop moved on to provide analysts with fiscal first-quarter and full-year expectations that are above and beyond previous predictions. For the last quarter ending February 2, the retailer showed a net income of $189.8 million (about $1.14/share), which is a pretty drastic increase over the $129.8 ($0.81/share) it posted a year ago. Overall revenue rose 24% to $2.87 billion as well, so things are going along pretty well.

In all honesty, it's not all that surprising to see the video game industry rising as the economy is going in the other direction. After all, when people don't have the money to go out, they stay home...and they have to entertain themselves when they're home, so what's better than a video game? Yeah, that's right, nothing.

3/18/2008 Ben Dutka

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Comments (3 posts)

K Phantom
Tuesday, March 18, 2008 @ 5:32:24 PM
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The only reason they make money is because i buy a game for $65 and return it for $25, that is why ebay is my place now!

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Knightedrik
Tuesday, March 18, 2008 @ 6:23:21 PM
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I hate to hear this..personally I quit shopping at the evil empire that is Gamestop/EB years ago. They do NOT care about either the video game industry or about the people that fuel said industry. They are only here to rip off 12-20 year old kids who dont have much money. They sell used games for maybe 5 dollars off the FULL PRICE of a new game.. and then when you go to trade it in.. and get some other game youve been waiting to play.. they offer a pitance of cash.. and give you an excuse like "well if you dont like it, go somewhere else." Well, you see.. thats the exact problem. They have made it to where there IS nowhere else to go. I have seen this kind of mentality fail horribly before.. Anybody other than me remember the arcade crashes of the 80's and 90's? With the fanbase of video gamers growing older with each passing year.. I was hoping this trend would pass. With the induction of places like Amazon.com and Ebay into our everyday lives.. why go we continue to put up with this? Gamestop/EB sells trashed games for almost full price because they are a Nazi-like regime.. and personally, I hope they burn in h*ll. And whatever you do.. DO NOT ORDER ANYTHING FROM THEIR WEBSITE!!! They actually save the worst, most destroyed copies of games to sell on their website. And when you go to return it.. They either will not refund you.. or they will make you take store credit.. that is completely worthless. Im now 33 years old, and I have endured this abuse for many, many years. I will not shop at their stores or their websites.. save some money, and get a NICE copy of a game at Amazon.. or even Ebay.. for a fraction of the price that the "empire" charges.

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OtisFeelgood
Tuesday, March 18, 2008 @ 7:13:27 PM
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I agree with Knightedrik

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