GameStop revenue falls on weak demand for hardware

Reuters News
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Posted: Mar 26, 2015 4:17 PM

(Reuters) - GameStop Corp, the world's largest retailer of video game products, reported a 5.6 percent drop in quarterly revenue, hurt by lower hardware demand during the holiday shopping season.

Net income rose to $244.1 million, or $2.23 per share, in the fourth quarter ended Jan. 31 from $220.5 million, or $1.89 per share, a year earlier.

Total global sales fell to $3.48 billion from $3.68 billion. Comparable store sales fell 1.8 percent.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Joyjeet Das)