GameStop's (NYSE:GME) fourth-quarter results and 2010 forecast topped Wall Street expectations Thursday. GameStop trades on the “New York Stock Exchange” under the stock symbol “GME”. For the Latest information regarding “GME”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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GameStop's (NYSE:GME) fourth-quarter results and 2010 forecast topped Wall Street expectations Thursday and company shares soared 9 percent on its outlook for the year.
Consumers still don't seem to be shopping like they used to. GameStop, the world's biggest video game retailer, reported a dip in net income. And sales at stores open at least a year dropped 7.9 percent with few people splurging on new game consoles.
But higher game sales helped the company edge out expectations. It earned $215.9 million, or $1.29 per share, in the three months ended Jan. 30. That's down 7 percent from $232.3 million, or $1.39 per share, in the same quarter a year ago.
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