GameStop (GME) Reports In-Line Q3 EPS; Cuts FY11 Sales Outlook; Authorizes $500M Buyback

GameStop Corp. (NYSE: GME) reported Q3 EPS of $0.39, in-line with the analyst estimate of $0.39. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.96 billion.

GameStop Corp. sees Q4 2011 EPS of $1.66-$1.76, versus the consensus of $1.74.

Affirms FY11 EPS outlook, reduced its sales guidance from 4.5-6.5% to 2-3%, same-store sales from up 1-3% to down 1%-unchanged.

Also authorized a $500 million buyback program.

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