GameStop Revenue and Profit Surpass Expectations Owing to Strong Sales of “Mortal Kombat X” and “Evolve

GameStop Revenue and Profit Surpass Expectations Owing to Strong Sales of “Mortal Kombat X” and “EvolveIn the first quarter, GameStop Corp, which is the largest video game products retailer in the world reported revenue and profit, which surpassed the expectation of analysts. The boost in revenue was mainly helped by higher sales of "Mortal Kombat X" and "Evolve", newly released games and also a boost in downloads of mobile games.

The shares of GameStop also climbed 5.3 percent during the extended trading hours as the company forecasted a profit for the second-quarter that surpassed the average estimate of the analyst's.

For the present quarter, the company predicted a profit of 21 to 25 cents a share which beat the analysts' expectation of 21 cents.

For the company based in Grapevine, Texas the first-quarter revenue increased 3.2 percent to $2.06 billion. The comparable sales in stores also spiked 8.6 percent.

For its mobile and consumer electronics business the revenue increased thirty four percent to $136.8 million.

GameStop hopes big gains from its upcoming release in June, "Batman: Arkham Knight".

In the first quarter which ended on May 2, the sale of new hardware for video games climbed 0.3 percent to $439.7 million whereas the sales of new software for games spiked approximately ten percent.