The third quarter of the financial year was a profitable one for GameStop, with sales jumping 18.8% to $2.11 billion and net earnings increasing by 45.3% over the prior year.
Key to this growth was the release of Grand Theft Auto 5, a game we awarded 4.5/5 stars. According to GameStop’s latest financial report, new software sales increased by 43.1% during the quarter. Hardware sales are likewise up, with the Nintendo 3DS and 2DS handhelds cited as the impetus for a 15.3% gain over last year.
The one dark spot in GameSpot’s financial report is a quick note that pre-owned game sales fell by 2%. This however is handily offset by the gains of GameStop’s mobile and digital sales, which are up 14.4% and 8.6%, respectively.
Riding these gains into the next-generation of gaming consoles, GameStop is confident in its position. “Our strong third quarter sales results give us great momentum as we enter the new console cycle,” stated CEO Paul Raines. “Consumer appetite for the new consoles is very strong judging by last week’s successful PS4 launch and the excitement for tonight’s Xbox One launch event. Globally, we are executing our unique playbook to maximize our position of strength.”
