Tag Archives: gme

GameStop Customers Hit Pause On Software Purchases

GameStop (GME) investors on Tuesday decided that their “princess is in another castle” and sold off shares of the video game retailer. GameStop stock was down nearly 20% in afternoon trading Tuesday, after the company forecast December-quarter profit below Wall Street estimates. The Grapevine, Texas-based company said Tuesday that it expects Q4 earnings of $1.85 to $1.95 per share. Analysts polled by Thomson Reuters were targeting $2.14. GameStop

Microsoft admits Xbox One is in 2nd place behind PS4

Microsoft(MSFT) and Sony (SNE) have been waging a back-and-forth public relations battle to establish which company’s new video game console is more popular this holiday shopping season. With its latest press release, Microsoft basically admitted that it is not selling as many new consoles as Sony (SNE), but blamed production issues, not consumer demand. Microsoft (MSFT) announced Wednesday that it has sold more than 2 million Xbox One consoles to consumers in its first 18 days of availability. “Demand is exceeding supply in our 13 launch markets and Xbox One is sold out at most retailers,” Yusuf Mehdi, Microsoft corporate vice president of strategy and marketing for Xbox, said in a statement . The Microsoft press release included quotes from executives at retailers Amazon.com (AMZN), GameStop (GME) and Wal-Mart (WMT) supporting its claim that the Xbox One is a hot-selling product. On Dec. 3, Sony announced that it had sold more than 2.1 million PlayStation 4 consoles in the product’s first 16 days of availability. Like the Xbox One, the PS4 also is in short supply this holiday season. Sony launched its PS4 on Nov. 15 and Microsoft followed with the Xbox One a week

GameStop guides lower on holiday earnings despite PS4, Xbox One

Video game retailer GameStop on Thursday took a cautious stance toward the holiday sales quarter, despite the launch of two next-generation game consoles. The Grapevine, Texas-based company posted better-than-expected fiscal third-quarter results , but gave earnings guidance below what Wall Street was targeting. GameStop (GME) stock was down 6% in afternoon trading on the stock market today . GameStop earned 58 cents a share, up 53% from a year earlier and a penny better than forecasts, for the quarter ended Nov. 2. Sales rose 19% to $2.11 billion, topping Street forecasts for $1.98 billion. Sales of new software increased 43%, driven by hit game titles such as …