GameStop Corp. Announces 7% Decline In Q1 Earnings

(RTTNews) - GameStop Corp. (GME) reported a profit for first quarter that decreased from last year.

The company said its profit fell to $63.6 million, or $0.63 per share. This was lower than $68.4 million, or $0.66 per share, in last year's first quarter.

Analysts had expected the company to earn $0.51 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 4.1% to $2.05 billion. This was up from $1.97 billion last year.

GameStop Corp. earnings at a glance:

-Earnings (Q1): $63.6 Mln. vs. $68.4 Mln. last year. -Earnings Decline (Y-o-Y): -7.0% -EPS (Q1): $0.63 vs. $0.66 last year. -EPS Decline (Y-o-Y): -4.5% -Analysts Estimate: $0.51 -Revenue (Q1): $2.05 Bln vs. $1.97 Bln last year. -Revenue Change (Y-o-Y): 4.1%

-Guidance: Full year EPS guidance: $3.10 to $3.40