GameStop's profit falls as game sales disappoint

Markets Reuters

NEW YORK (Reuters) - Video game retailer GameStop Corp <GME.N> said on Thursday that its quarterly profit fell as sales of video game hardware and software products underperformed.

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For the second quarter ended July 30, the company said its net income fell to $30.6 million, or 22 cents per share, down from $39.8 million, or 26 cents per share a year earlier.

The company posted sales of $1.7 billion, which missed Wall Street expectations of $1.8 billion, according to Thomson Reuters I/B/E/S. Sales were down 3 percent from a year earlier.

For the third quarter, the company said its comparable store sales should rise by 2 percent to 4 percent. Its earnings per share should range from 38 cents per share to 41 cents per share, which is in line with Street estimates.

(Reporting by Liana B. Baker, editing by Gerald E. McCormick)