GameStop Enjoys Best Non-Holiday Quarter Ever
It's what a lot of great games will do for you, regardless of an economy that supposedly remains a little shaky.
According to GameSpot, the biggest game retailer in the world has posted its single biggest non-holiday quarter in the company's history. For the three-month period that ended May 1, GameStop's total revenues hit $2.08 billion, up over 5% from the $1.98 billion it raked during the same period last year; it's the first time the retailer even topped $2 billion in a quarter outside of the standard holiday period. Not surprisingly, the surge was attributed to "spiking new game sales," which were up over 13% in a year-over-year comparison; the likes of Final Fantasy XIII, Battlefield: Bad Company 2, God of War III, Bioshock 2, and Pokemon HeartGold (and SoulSilver) were mentioned as big sellers. We also shouldn't forget Heavy Rain, which was another million-seller. On top of which, GameStop managed to improve their bottom line in the previous quarter, posting a net income of $75.17 million, up nearly 7% from the $70.43 million from last year's period. This is all despite the lagging April and overall, GameStop's outlook is all sorts of rosy: they expect net profits to be up 9-17% for the current quarter and 19-28% for the next quarter. These numbers oughta make investors happy.
Oh, and let's not forget that what may have been GameStop's final competitor, GameCrazy, is officially gone as of June. So everything is pointed up for the mega-retailer, and I guess there's absolutely nothing wrong with that.
5/20/2010 9:40:35 PM Ben Dutka