GameStop (GME) Surging Ahead In Pre-Market On Better Than Expected Results
GameStop (NYSE: GME) is surging ahead in pre-market trading session. GME has announced its fourth-quarter net income at $215.9 million, or $1.29 a share, down from $232.3 million, or $1.39 a share, in the year-ago period. GME’s revenues for the quarter rose to $3.52 billion from $3.49 billion. Analysts had expected GME to earn $1.28 a share on revenues of $3.45 billion.
For 2010, the Grapevine, Texas-based video game retailer has forecasted its earnings at $2.58-$2.68 a share, ahead of the Street view of $2.26 a share. GME also expects its first-quarter same store sales to fall 3% to break even. However, the company expects to meet Wall Street earnings expectations of $0.47 a share for Q1.
Shares of GameStop jumped 6.75% to $21.20 in the pre-market session.
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