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New console buzz not enough for GameStop’s Q3 results
Last week’s PS4 launch and the highly anticipated Xbox One launch bolstered GameStop’s third-quarter results, but not as much as some investors expected, according to other reports.
The company posted total global sales for the quarter of $2.11 billion, an 18.8% increase from $1.77 billion in the prior-year quarter. Consolidated comparable store sales surged 20.5%, significantly above the forecasted range — but, according to a Reuters report, not enough to keep shares from slipping 6%.