GameStop quarterly financials note sales decline in physical, 31.8% growth in digital

By Stephany Nunneley, Thursday, 15 November 2012 15:47 GMT

GameStop has reported a decline in physical sales in its latest quarterly financial release, but digital sale are on the up for the gaming retail giant.

Digital sales were up 31.8% year-over-year to $127 million. Tablets and pre-owned mobile phones sales came in at $43.2 million. The firm noted a decline in new and pre-owned software and hardware.

“Diligent operational efforts in a tough video game market as well as continued margin expansion of 200 basis points resulted in third quarter earnings exceeding expectations,” CEO Paul Raines stated.

“We are now focused on delivering a successful holiday quarter driven by great titles, an unrivaled loyalty program, exciting new businesses and the Wii U launch.”

Sales for the period fell 8.3% year-over-year, with global sales down 8.9% to $1.77 billion.

Thank, MCV.

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