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
Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances. Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
comments powered by Disqus
Trade GME now with 
Follow RTT