GameStop Posts Earnings; Activision Reports Record Call of Duty Sales Thursday, November 17, 2:02 PM ET
GME) reported third quarter earnings today that slid to $53.9 million, or $0.39 per share, from $54.7 million, or $0.36 per share, last year.
Earnings at the video game retailer met analyst expectations, although revenue fell slightly short, rising 2.5% to $1.95 billion. Same-store sales fell by 0.6%.
New video game software sales rose 4.8%, driven by Microsoft's (NASDAQ:
MSFT) Gears of War 3 and Battlefield 3 and Madden NFL 12 from Electronic Arts ( ERTS), among others.
Also today, Activision Blizzard (NASDAQ:
ATVI) shares are trading higher after the company reported record five-day sales of its Call of Duty: Modern Warfare 3 game.
The game posted $775 million in sales in its first five days on the market, breaking the record set last year by Call of Duty: Black Ops.
Activision said the sales beat all first-day and five-day records for theatrical box-office, book and video game sales.
For MarketNewsVideo.com, I'm Sayoko Murase.
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GameStop Posts Earnings; Activision Reports Record Call of Duty Sales
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