CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header

Local

GameStop’s Q1 Net Income Falls 25 Percent

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

dl image GameStops Q1 Net Income Falls 25 PercentClick To Win A Disney World Vacation

jacks music match up 1982 GameStops Q1 Net Income Falls 25 PercentPick The Best Song From 1982

grand in your hand11 GameStops Q1 Net Income Falls 25 PercentWin A Grand In Your Hand

155742164 GameStops Q1 Net Income Falls 25 PercentPick Your Favorite Victoria Secret Model

Featured Items

Fantasy_tileHottest Olympians

pet_tileYour Pet Photos

weather_tileSend Us Your Weather Photos

GRAPEVINE (AP) - GameStop Corp. says its first-quarter net income fell 25 percent as revenue declined, but results at the world’s biggest video game retailer surpassed Wall Street’s expectations.

The Grapevine-based company on Thursday announced it earned $54.6 million, or 46 cents per share, in the three months that ended on May 4. That’s down from $72.5 million, or 54 cents per share, in the same period a year earlier.

Revenue fell 7 percent to $1.87 billion from $2 billion.

Analysts, on average, were expecting earnings of 40 cents per share on revenue of $1.82 billion.

GameStop’s report comes two days after Microsoft Corp. became the last of the three major video game console makers to unveil its new gaming system, the Xbox One.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out:

MOST VIEWED GALLERIES

View Comments