GameStop has released its earnings results for the third quarter spanning from mid-August to November, reporting a 20.5% sales increase, a number significantly above their forecasted range. Net earnings grew 45.3% to $68.6m.
New game sales grew 43.1% carried by the record setting performance of Grand Theft Auto V. New hardware sales grew 15.3% with both the Nintendo 2DS and 3DS specifically mentioned for their “strong sell-thru”.
Mobile and digital sales rose 14.4% to $49.9m.
Paul Raines, CEO of GameStop: “Our strong third quarter sales results give us great momentum as we enter the new console cycle. Consumer appetite for the new consoles is very strong judging by last week’s successful PS4 launch and the excitement for tonight’s Xbox One launch event. Globally, we are executing our unique playbook to maximize our position of strength.”
For Q4 GameStop expects total global sales to raise to anywhere between 2% and 9%. Full year total global sales are predicted to raise to anywhere between 1.5% and 4.5%.