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
Dairy giant Saputo Inc. is voluntarily recalling certain Gouda cheese products in the U.S. due to potential listeria contamination. Saputo said one of its suppliers, Deutsch Kase Haus, LLC of Middlebury, Indiana, notified the company that some specialty Gouda cheese products that it supplied to Saputo's Green Bay, Wisconsin facility may have been contaminated with Listeria monocytogenes. Amazon is exploring the possibility of using parachutes to drop drone-delivered packages. The e-commerce giant has been granted a patent titled, "Maneuvering a package following in-flight release from an unmanned aerial vehicle". U.S. food maker Kraft Heinz Co. (KHC) Friday confirmed that it has made a comprehensive proposal to Anglo-Dutch consumer goods company Unilever Plc or Unilever NV. The cash and stock offer values $143 billion. Further, Kraft Heinz noted that Unilever has declined the proposal, however it go ahead...
comments powered by Disqus
Follow RTT