GameStop Q4 Results Miss Estimates

(RTTNews) - Video-game retailer GameStop Corp. (GME) reported net income for the fourth quarter of $244.1 million or $2.23 per share, compared to $220.5 million or $1.89 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $235.5 million or $2.15 per share, compared to $222.4 million or $1.90 per share in the prior year quarter.

Total sales for the fourth quarter fell 5.6% to $3.48 billion from $3.68 billion in the same quarter last year, as mobile and consumer electronics and new software growth was offset by a decrease in new hardware sales.

Analysts polled by Thomson Reuters expected the company to earn $2.17 per share on revenue of $3.60 billion for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company expects total sales to be down 2% to up 1% and earnings to be $0.53 to $0.60 per share. Analysts currently expect the company to earn $0.66 per share on revenue growth of 6.60% for the first quarter.

For the fiscal year 2015, the company expects total sales to be down 1% to up 4% and earnings to be $3.60 to $3.80 per share. Analysts currently expect the company to earn $4.04 per share on revenue growth of $6.20% for the fiscal year 2015.