21
Aug
08

Gamestop Makes a Lot of Money this Quarter

It seems as if video game retailers may not be as affected by the recession as other entertainment industries; some very convincing evidence for this statement can be found in Gamestop’s quarterly earnings report that was released today. Gamestop raked in a record $57.2 million in profit from a gross income of $1.8 billion in the second quarter of 2008. Compared with the situation a year ago, when Gamestop made $21.8 million in profit from $1.4 billion gross revenue, it is surprising. That is a 162% yearly increase in profit and a 38% increase in revenue. This is quite an accomplishment in today’s economy, and a good sign for video games making a place in mainstream entertainment. Gamestop cited GTA IV, MGS4, NCAA ‘09, Wii Fit, and Battlefield: BC as the top 5 sellers in the quarter, in that order, also noting that GTA IV’s first five days of release were out of the quarter. Things can only go up in the second half of the year with major blockbusters like Gears of War 2, Rock Band 2, Fable 2, Guitar Hero: World Tour, Call of Duty: World at War, Fallout 3, Star Wars: The Force Unleashed, and many more set for release.



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