GameStop reports Q3 sales of $1.9 billion, 50% of profit comes from used games
Published on
GameStop makes lots of money, that much is certain. But apparently, according to the firm's Q3 financials, the company earned $1.9 billion in sales for the three-months ending October 30, which is up nine percent compared to the same period last year when it reported $1.83 billion in sales.
Overall sales for the firm were up nine percent over 2009 when GameStop reported sales of $1.83 billion.
Net earnings were up 4.8 percent to $54.7 million for the quarter, with used games hitting $528.million with a profit of $250.2 million, compared to 2009's pre-owned worth of $507.7 million with a profit of $240 million.
This means that over 50 percent of company profit can be attributed to used game sales.
Holy Toledo, Batman.
Thanks, MCV.