GameStop Q4 profit up 22%

Grapevine, Texas GameStop Corp. on Thursday reported that its fiscal fourth-quarter earnings rose 22%, helped by increased video-game sales and income from its acquisition of French video-game retailer Micromania.

For the quarter ended Jan. 31, GameStop earned $232.3 million, compared with $189.8 million in the year-ago period. Sales rose about 22% to $3.49 billion, slightly ahead of the $3.46 billion analysts were looking for.

GameStop said new video-game software sales rose 22% to $1.48 billion, while used video-game product sales climbed 31% to $714.2 million. New video-game hardware sales rose 13% to $813.1 million.

The company also reported $12 million in income from Micromania.

For the full fiscal year, GameStop earned $398.3 million, compared with $288.3 million from the same period in the year before.

Revenue totaled $8.8 billion, up from $7.09 billion last year.