Sunday, 23 November 2014

GameStop misses targets, cuts outlook

A scene from “Assassin’s Creed Unity.”
Shares of video game retailer GameStop slumped on third-quarter profit that missed expectations while it also cut its outlook for the year. The Texas company said it earned an adjusted profit of 57 cents per share, below Wall Street estimates of 62 cents. Sales reached $2.09 billion, short of forecasts for $2.21 billion. GameStop said the delayed release of “Assassin’s Creed Unity,” the newest version of a popular video game, hurt sales. GameStop now expects per-share earnings for the year of $3.40 to $3.55.