Scalper1 News
Video game retailer GameStop (GME) earned a power-up with its holiday sales report late Tuesday. Investors were enthused by strong sales of video game software in the December quarter. GameStop stock rose 12.4% to 36.84 in early afternoon trading in the stock market today. GameStop’s total global sales for the holiday period ended Jan. 3 were $2.94 billion, down 6.7% compared with the 2013 holiday sales period. GameStop’s (GME) sales were negatively affected by foreign currency exchange rates due to the strong dollar. In constant currency, GameStop’s holiday sales were down 4%. New software sales grew 5.8%, or 8.9% in constant currency. The growth was driven by software for Sony’s (SNE) PlayStation 4 and Microsoft’s (MSFT) Xbox One consoles, led by hot titles such as Activision’s (ATVI) “Call of Duty: Advanced Warfare,” Take-Two Interactive Software’s (TTWO) “Grand Theft Auto 5” and Ubisoft’s “Far Cry 4.” Sales of new hardware declined 32%… Scalper1 News
Scalper1 News