GameStop Q1 Profit Tops Estimate

(RTTNews) - GameStop Corp. (GME) reported net income for the first quarter of $68.0 million or $0.59 per share, compared to $54.6 miollion or $0.46 per share for the year-ago quarter.

Total global sales for the first quarter rose 7% to $2.00 billion from $1.87 billion in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.57 per share on revenue of $2.03 billion for the first quarter.

Looking forward to the second quarter of fiscal 2014, GameStop expects same-store sales growth of 12.0% to 19.0% and earnings per share of $0.12 to $0.20.

For fiscal year 2014, the company maintained its previously announced full year earnings per share guidance range of $3.40 to $3.70. Full year same-store sales growth is expected between 6.0% and 12.0%.

Analysts currently expect the company to earn $0.17 per share for the second quarter and $3.68 per share for the fiscal year 2014.