Filed under: Earnings reports, Forecasts, Good news

Despite a tumbling economy where recession fears gain ground each day, video games demand is rising for at least one retailer. The good times are rolling for GameStop Corp. (NYSE: GME), which reported this morning that its fourth-quarter profit jumped 46%.

GameStop’s quarterly profit rose up to $189.8 million, or $1.14 per share, compared with $129.8 million, or 81 cents per share in the same period last year. Analysts, on average, were waiting for the company show earnings of $1.12 per share for the quarter.

Taking a look at the company’s quarterly revenue, we see a growth of 24% to $2.9 million. For this period, the retailer counted strong sales for its Guitar Hero III and Call of Duty 4 video games. Quarterly sales numbers matched analysts’ predictions, according to Thomson Financial.

Continue reading GameStop (GME) fourth-quarter earnings surge on higher sales

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This entry was posted on Tuesday, March 18th, 2008 at 6:33 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.