Seeking Alpha

GameStop results boosted by Xbox One and PS4

  • Earnings of $68M up 24.5% Y/Y, with EPS of $0.59 up 28.3%.
  • Comp store sales up 5.8% from a year ago, with new hardware sales up 81.1%. New software sales fell 20.4%, but pre-owned/value software sales rose 5.3%.
  • Non-GAAP digital receipts up 9.5%.
  • 1.33M shares repurchased during Q at average price of $39.28 each. $405M remains on repurchase authorization. Float is about 115M shares.
  • Q2 comp store sales growth guidance of 12-19%, with EPS expected at $0.12-$0.20 (Street is at $0.17), representing a 33-122% increase over one year ago. Full year EPS guidance of $3.40-$3.70 and comp store sales growth guidance of 6-12% is maintained.
  • CC at 5 ET
  • Previously: GameStop beats by $0.02, misses on revenue
  • GME +1.8% AH
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