GameStop (GME) proved that not even video games are immune to the economic turmoil slamming retailers, as it posted a 10% decline in third-quarter earnings and weighed in with disappointing guidance for the current quarter.
The company earned $46.7 million, or 28 cents per share, in the third quarter, down from $52 million, or 31 cents per share, a year ago.
GameStop’s revenue rose 5.2% in the third quarter to $1.7 billion, falling short of the $1.82 billion analysts had forecasted.
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