Scalper1 News
Video game retailer GameStop (GME) crushed Wall Street’s Q1 estimates and ripped out its still-beating heart in triumph late Thursday, thanks to hit titles like ultra-violent fighting game “Mortal Kombat X.” GameStop stock jumped 6% to 43 in morning trading on the stock market today. The Grapevine, Texas-based retailer earned 68 cents a share, up 15% year over year, on sales of $2.06 billion, up 3%, for the quarter ended May 2. Analysts polled by Thomson Reuters expected GameStop to earn 59 cents a share on sales of $2.01 billion. Same-store sales rose 8.6% in fiscal Q1, compared with 5.8% in the year-earlier period. GameStop said its software sales were helped by hot games like “Mortal Kombat X” from Time Warner ‘s (TWX) Warner Bros. Interactive Entertainment and “Battlefield Hardline” from Electronic Arts (EA). For the current quarter, GameStop expects to earn 23 cents a share,… Scalper1 News
Scalper1 News