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GameStop’s Second Quarter 2013 Year-Over-Year Earnings Down 10.7 Percent

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Posted on August 22, 2013 AT 01:29pm

GameStop saw a nearly 11 percent drop in year-over-year earnings for the second quarter of its 2013 fiscal year, the company announced.

The company’s total global sales for the quarter ending August 3 were $1.38 billion, a 10.7 percent decrease. This is less than GameStop had anticipated—they had projected a 12.5 to 16 percent drop. New game sales were down by 9.3 percent.

“Through two quarters, the year has played out as expected,” GameStop CEO Paul Raines stated in an investor release. “During this console transition period, our financial results have been supported by the continued growth of our emerging businesses.”

Mobile and digital sales, however, have both increased significantly. Mobile sales have risen 124.1 percent, while digital sales climbed 17.9 percent.

GameStop expects an improved sales during the 2013 fiscal year’s third quarter.

Source: GameStop

Chris Holzworth, News Editor
Chris Holzworth has wanted to write about games all his life. He first cut his teeth writing for enthusiast sites such as RPGFan, and after writing for just about every other enthusiast website he could came across, wound up as EGM's east coast news correspondent (read: editorial intern, a fancy phrase for "slave") before relocating to LA to serve as news editor. [Meet the rest of the crew]

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