GameStop Second-quarter Sales Beat Expectations; Shares Rise

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GameStop Second-quarter Sales Beat Expectations; Shares Rise

by Wochit 0:43 mins

GameStop Second-quarter Sales Beat Expectations; Shares Rise

by Wochit 0:43 mins

GameStop on Thursday reported its quarterly revenue surged by 25 percent over the prior year, topping expectations, buoyed by the success of new game releases as well as solid sales of gaming hardware from Microsoft and Sony. Revenue for the fiscal second quarter ended Aug. 2 rose to $1.73 billion. Wall Street on average had expected the U.S. game store chain to report revenue of $1.65 billion. Shares of the company gained 6.2 percent to $43 after-hours, from a close of $40.49 on the New York Stock Exchange.

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