GameStop Q2 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - Video-game retailer GameStop Corp. (GME) reported second quarter net earnings of $25.3 million or $0.24 per share, compared to $24.6 million or $0.22 per share for the year-ago quarter.

Excluding one-time charges, GameStop's adjusted net earnings for the latest quarter were $33.1 million or $0.31 per share.

Total sales for the second quarter rose 1.8% to $1.76 billion from $1.73 billion a year ago, with same-store store sales up 8.1%.

Analysts poled by Thomson Reuters expected the company to earn $0.25 per share on revenue of $1.74 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, GameStop expects same-store sales growth of 1.0% to 4.0% and earnings per share of $0.53 to $0.60.

For fiscal year 2015, the company raised its adjusted earnings per share guidance range to a range of $3.66 to $3.86 from its prior guidance of $3.63 to $3.83 to account for the reduction in shares outstanding. Full year same-store sales are now expected to grow in the range of 2.0% to 7.0%, compared to its prior expectations of 1.0% to 6.0% growth.

Analysts currently expect the company to earn $0.59 per share for the third quarter and $3.88 per share for the fiscal year 2015.