Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
October 21, 2020
arrowPress Releases







If you enjoy reading this site, you might also want to check out these UBM Tech sites:


GameStop's Q1 earnings can't match last year's Switch-driven highs

GameStop's Q1 earnings can't match last year's Switch-driven highs

May 31, 2018 | By Alex Wawro




Word is out today about how GameStop's finances fared in its most recent quarter, and the word seems to be not great, as the retail chain reports a slight dip in sales and a bigger dip in profits year-over-year.

For the 13 months ending May 5th, GameStop reportedly earned $57.1 million (GAAP) on $1.93 billion in sales. That's a bit less revenue and about half as much profit as the company reported a year earlier, when it earned $101.1 million on $2.04 billion in sales.

According to GameStop, this drop was expected since the first quarter of last year was dominated by the better-than-expected launch of Nintendo's Switch, as well as big sellers like The Legend of Zelda: Breath of the Wild.

This is also how GameStop accounts for a 7.9 percent decrease in sales of new hardware, a 10.3 percent decrease in sales of new software, and a 5.3 percent decrease in sales of pre-owned goods compared to the same period last year.

However, the company says it's not making any changes to its earnings forecast for the full fiscal year, which is expected to be slightly lower than last year's earnings. The company also took this opportunity to announce that it has promoted board member (and former Microsoft VP) Shane Kim to the post of interim CEO as it searches for a more permanent option.



Related Jobs

Remedy Entertainment
Remedy Entertainment — Espoo, Finland
[10.20.20]

Senior Material Artist
Remedy Entertainment
Remedy Entertainment — Espoo, Finland
[10.20.20]

Development Manager (Xdev Team)
Remedy Entertainment
Remedy Entertainment — Espoo, Finland
[10.20.20]

Animation Director
innogames
innogames — Hamburg, Germany
[10.20.20]

Mobile Software Developer (C++) - Video Game: Forge of Empires









Loading Comments

loader image