GameStop 4Q Profit Surges
Grapevine, Texas GameStop Corp. said Tuesday that its fiscal fourth-quarter earnings climbed 46% as demand for popular games such as Guitar Hero III and Call of Duty 4 led to a surge in sales.
Net income in the quarter ended Feb. 2 rose to $189.8 million, from $129.8 million in the year-ago period. Sales rose 24% to $2.9 million from $2.3 million last year. For the year, profit jumped to $288.3 million from $158.3 million, and sales rose to $7.1 billion from $5.3 billion.