GameStop Misses Q3 Estimates
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GRAPEVINE (AP) - GameStop has reported a third-quarter profit that missed expectations while also cutting its outlook for the year.
The Grapevine-based company on Thursday reported it earned an adjusted profit of 57 cents per share in its fiscal third quarter. Wall Street analysts expected 62 cents per share.
The video game retailer's sales in the period, $2.09 billion, also fell short of analysts' forecast for $2.21 billion.
GameStop says the delayed release of "Assassin's Creed Unity," the newest version of a popular video game, hurt its sales for the quarter, which ran through Nov. 1.
GameStop now expects per-share earnings for the year of $3.40 to $3.55 per share, down from its previous outlook of $3.40 to $3.70.
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