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GameStop Revenue, Market Share Surge In Fourth Quarter

It was a happy holiday season for GameStop.

The retailer reported their fiscal fourth quarter earnings today and perhaps unsurprisingly, the new game consoles helped the retailer reach a quarterly revenue of $3.68 billion, up 3.4 percent year-over-year. Of that lofty number, the company raked in $3.15 billion during the 9-week holiday period alone.

Comparable store sales jumped 7.8 percent and according to GameStop CEO Paul Raines, the PlayStation 4 and Xbox One launches really helped to enliven the industry. Oh, and the retailer's market share hit an all-time high, too. Said Raines:

"The launch of new consoles in 2013 marked the return of innovation to the video game category and GameStop's market share increased to an all-time high. Our emerging digital and mobile businesses, which did not exist three years ago, surpassed $1 billion of revenue."

Total fourth-quarter net earnings came in at $220.5 million, which was down from the $261.1 million posted last year. This included asset impairment charges of $28.7 million, though, mostly due to the closing of Spawn Labs. As for cloud-based delivery, GameStop says it's "potentially revolutionary" but thus far, the consumer hasn't proven that he's ready to fully embrace this type of service.

New consoles are a boon for everyone!

Tags: gamestop, gamestop business, gaming industry, video game sales

3/27/2014 11:27:43 AM Ben Dutka

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Comments (10 posts)

Underdog15
Thursday, March 27, 2014 @ 12:09:05 PM
Reply

Makes sense. Shopping for games is not just about finding something you want to buy. There's a hobbyist mentality to it, too. Lots of people just love browsing... picking up games and looking at the backs.... seeing the collectable items they have for sale... etc. etc.

In that sense, it's more enjoyable to buy from an actual store than just download what you want.

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WorldEndsWithMe
Thursday, March 27, 2014 @ 12:37:20 PM

That's why I liked video rental stores, and now they are gone... :(

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Underdog15
Thursday, March 27, 2014 @ 8:14:38 PM

I miss them, too.

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WorldEndsWithMe
Thursday, March 27, 2014 @ 12:36:42 PM
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I don't think we've seen the return of innovation yet, but perhaps he means that expectation of innovation spurred sales.

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Bio
Thursday, March 27, 2014 @ 1:04:00 PM
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GameStop's pretty much the one entity that doesn't deserve to benefit from new consoles, though.

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Knightzane
Thursday, March 27, 2014 @ 2:58:28 PM
Reply

Hey gamestop, give some of that money back to the devs eh?

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MRSUCCESS
Thursday, March 27, 2014 @ 3:32:38 PM
Reply

I prefer to give my money to local stores. Not only do they know who I am from the few visits I do bi monthly, but they also hook me up with new games before they're released.

They're not supposed to do that, but in this monetary system there are loop holes EVERYWHERE.

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WorldEndsWithMe
Thursday, March 27, 2014 @ 5:11:32 PM

which monetary system?

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MRSUCCESS
Thursday, March 27, 2014 @ 5:50:05 PM

Capitalism

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PlatformGamerNZ
Thursday, March 27, 2014 @ 5:57:16 PM
Reply

well i suppose this is gud but i think at least they see we don't want this whole cloud gaming thing right now and not for awhile

happy gaming =)

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