GameStop revenue rises seven percent due to new console demand

Reuters News
Posted: May 22, 2014 4:25 PM

(Reuters) - GameStop Corp, the world's largest retailer of videogame products, reported a 7 percent rise in quarterly revenue due to continued demand for new game consoles from Sony Corp and Microsoft Corp.

Net profit rose to $68.0 million, or 59 cents per share, in the first quarter ended May 3 from $54.6 million, or 46 cents per share, a year earlier.

The Grapevine, Texas-based company said revenue rose to $1.99 billion from $1.87 billion.

(Reporting By Lehar Maan in Bangalore; Editing by Joyjeet Das)