GameStop Growing. Kinda.

Posted on May 17 2012 - 6:07pm by Jose Salazar
GameStop Growing. Kinda.
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GameStop’s financial report stated today that its mobile and digital businesses are growing, but aren’t quite able to cover the shrinking market for packaged games.

The company wasn’t too specific on its figure for digital sales, but noted the sector was up 23%year-over year, while mobile raked in $12 million for the period.

In total, GameStop posted total global sales of $2 billion for the three months ended April 28, down 12.2% from the $2.28 billion recorded during the same time last year. Net income for the period hit $72.5 million, a dip from the $80.4 million made a year ago.

Looking to its current fiscal quarter, GameStop said it expects store sales to fall 11% to 5%, with full-year revenue expected to range from a negative 5 percent to flat. Additionally, in a postearnings financial call, CFO Robert Lloyd revealed that ArenaNet’s long-awaited massively multiplayer online role-playing game Guild Wars 2 has slipped out of the company’s current quarter, meaning it is now expected to arrive sometime after July.

Gamespot.