GameStop Corp. (GME) Tops Q2 EPS by 4c; Comps Rose 21.9%; Guides Q3 EPS

GameStop Corp. (NYSE: GME) reported Q2 EPS of $0.22, $0.04 better than the analyst estimate of $0.18. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.64 billion.

Consolidated comparable store sales increased 21.9%.

During the quarter, new hardware sales increased 124.8%, as worldwide demand for Microsoft’s Xbox One and Sony’s PlayStation 4 remains very high. New software sales grew 15.6% driven by the strong performance of recently released new titles, such as Ubisoft’s Watch Dogs and Nintendo’s Mario Kart 8. Each of these categories outperformed the overall market, leading to 200 basis points of total market share gain. The pre-owned/value category saw positive growth, +5.5%, for the second consecutive quarter.

Sales in the mobile & consumer electronics category rose 85.1%, led by the ongoing expansion and strong results of Spring Mobile and Simply Mac. The Technology Brands segment contributed 19% of the company’s second quarter’s operating profit.

GameStop Corp. sees Q3 2014 EPS of $0.58-$0.64, versus the consensus of $0.57.

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

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