logo
Share SHARE
FONT-SIZE Plus   Neg

GameStop's Initial Q1 Earnings Tops View, But Same-Store Sales Fall 12.5%

Video game retailer GameStop Corp. (GME) Thursday pre-announced its first-quarter 2012 earnings that topped Street estimates by a penny, while same-store sales fell 12.5 percent as demand softened for "AAA" game launches and slower than expected traffic.

GameStop pre-announced first-quarter 2012 earnings of $0.54 per share. As per current estimates, on average, 18 analysts polled by Thomson Reuters expect earnings of $0.53 per share. Analysts' estimates typically exclude special items. GameStop in March had forecast first-quarter 2012 earnings of $0.52 to $0.55 per share.

GameStop is set to release its first-quarter 2012 earnings results on May 17.

Additionally, GameStop reaffirmed its outlook for fiscal year 2012. It continues to expect earnings of $3.10 to $3.30 per share. Analysts currently expect earnings of $3.21 per share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT