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Gamestop profit beats consensus by 15.4% in fiscal Q1


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Gamestop profit beats consensus by 15.4% in fiscal Q1

GameStop Corp. said its normalized net income for the fiscal first quarter ended May 2 came to 68 cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS increased 20.3% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $74.1 million, an increase of 12.5% from $65.8 million in the year-earlier period.

The normalized profit margin climbed to 3.6% from 3.3% in the year-earlier period.

Total revenue climbed year over year to $2.06 billion from $2.00 billion, and total operating expenses grew from the prior-year period to $1.94 billion from $1.89 billion.

Reported net income grew 7.8% from the prior-year period to $73.7 million, or 68 cents per share, from $68.4 million, or 59 cents per share.