GameStop Q2 profit and sales surge

Grapevine, Texas -- GameStop Corp. on Thursday reported a second-quarter profit of $24.6 million, up from $10.5 million in the year ago period.

Revenue rose 25% to a better-than-expected $1.73 billion, helped by new game releases as well as solid sales of gaming hardware.

“The second quarter demonstrates the power of the new console cycle and all of our business units, including Technology Brands, positively contributing to the company’s sales and profits,” stated Rob Lloyd, CFO. “The back half of the year is filled with exciting games and products coming to market and I am confident that we are prepared to capitalize on these opportunities.”

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