GameStop (GME) Tops Q1 EPS by 9c; Bumps Outlook

GameStop (NYSE: GME) reported Q1 EPS of $0.68, $0.09 better than the analyst estimate of $0.59. Revenue for the quarter came in at $2.06 billion versus the consensus estimate of $2.01 billion. Same store sales increase 8.6% driven by 10% growth in new software sales.

GameStop sees Q2 2015 EPS of $0.21-$0.25.

GameStop raises FY2015 EPS to $3.63-$3.83, versus prior guidance of $3.60-$3.80 and the consensus of $3.83.

Paul Raines, chief executive officer, stated, “Our first quarter results exceeded expectations, displaying our market leadership and our ability to drive and leverage our core video game business and expand our diversified businesses to deliver healthy profits and solid top-line growth. This performance confirms that our effort to transform GameStop into a family of specialty brands is the right strategy to drive durable revenues and shareholder value.”

For earnings history and earnings-related data on GameStop (GME) click here.

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