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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

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