GameStop Reports 10 Percent Increase in Net Income

March 24, 2011 -

GameStop is reporting a 10 percent increase in net income for the fourth quarter of 2010, citing robust holiday sales of hardware and accessories such as Kinect. Fourth-quarter net income was $237.8 million, up from $215.9 million in the same period a year ago. Quarterly revenue was up 6 percent to $3.69 billion.

Sales of new game hardware accounted for 21.2 percent of GameStop's overall revenue, up from 20.9 percent in the fourth quarter of the previous year. Hardware contributed 7.2 percent to overall gross profit, compared to 5.5 percent in 2009. Used games accounted for 21.8 percent of total net sales and 44.2 percent of gross profit.

GameStop projects that Q1 revenue will rise 6 - 8 percent, with earnings of around 53 - 55 cents. Analysts predicted around 51 cents a share. The company said that it will continue to invest in its digital business, including services such as in-store game cards for downloadable content as well as its PowerUp Rewards program. It expects to spend $100 million to expand digital initiatives in the current fiscal year.

Source: Market Watch

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Re: GameStop Reports 10 Percent Increase in Net Income

Hey, maybe that means I can get a raise now!

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*Rolls on the floor, laughing* 

"Power means nothing without honor and pride."

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Re: GameStop Reports 10 Percent Increase in Net Income

They most likely will continue to profit even more with all the 3DS sales (not that there isn't a lot of competition though).

Re: GameStop Reports 10 Percent Increase in Net Income

Good for gamestop for making more profits.

http://www.magicinkgaming.com/

 
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Mattsworknamei I hope there is, I love that series.04/25/2015 - 5:59pm
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Mattsworknameof From softwares recent games, bloodborne is the best work they have done yet, though they really need to get to work on armored core 604/25/2015 - 5:10pm
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Matthew WilsonI think its a good article, and devs can take some lessons from life is strange.04/24/2015 - 10:24pm
Andrew EisenI tinyURL'd it. The world is safe!04/24/2015 - 10:23pm
Matthew Wilson@AE my bad there is nothing I can do about that.04/24/2015 - 10:21pm
Andrew EisenLooks like the spoiler is right there in the URL.04/24/2015 - 10:20pm
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Andrew EisenWell, that is indeed crappy and nonsensical.04/24/2015 - 3:45pm
Matthew Wilsonshe got attacked for saying that she personaly has not experienced the harassment some other female devs have, and she got acused of defending GG and ignoring harassment. she ended up getting dog piled because of it.04/24/2015 - 3:43pm
Andrew EisenFine but do you recall ANY details at all?04/24/2015 - 3:38pm
Matthew Wilsonit was several weeks ago now, and I will admit to not saving it.04/24/2015 - 3:36pm
Andrew EisenAttacked HOW and by WHOM for not writing off WHO as evil? Do you have a link or anything?04/24/2015 - 3:31pm
Matthew Wilsonthat is the whole point she was not attacked for saying anything. she was attacked for being willing to debate in the first place, and not just write them off as evil.04/24/2015 - 3:28pm
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