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Gamestop fiscal Q3 profit falls 7.2% YOY

Gamestop Corp. said its normalized net income for the fiscal third quarter ended Nov. 1 was 56 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS decreased year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $62.9 million, a decrease of 7.2% from $67.8 million in the year-earlier period.

The normalized profit margin declined to 2.6% from 3.2% in the year-earlier period.

Total revenue came to $2.09 billion, compared with $2.11 billion in the year-earlier period, and total operating expenses came to $1.99 billion, compared with $2.00 billion in the prior-year period.

Reported net income fell 17.6% year over year to $56.5 million, or 50 cents per share, from $68.5 million, or 58 cents per share.