(EMAILWIRE.COM, March 18, 2010 ) Dallas, Tx - Most of the Gaming Stocks edged higher after GameStop forecast a rebound in 2010.
GameStop Corp. (NYSE:GME) soared 9.35% to $21.71 after the company said it expects sales of new software to increase 2-5% in the year while used software is seen rising 5-10%. The world's largest stand-alone retailer of video-game software, consoles and accessories, said its fourth-quarter profit was $215.9 million, or $1.29 a share, compared with $232.3 million, or $1.39, in the same period a year ago.
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Revenue rose to $3.52 billion from $3.49 billion a year ago, despite a 7.9 percent decline in comparable store sales.
Analysts were expecting a profit of $1.28 a share on revenue of $3.44 billion.
Other gaming stocks got a boost as well:-
Activision Blizzard, Inc. (NASDAQ:ATVI) surged over 2% to $12.03 on high volume. In the past one year, the stock is up over 25%.
Electronic Arts Inc. (NASDAQ:ERTS) rose 2.50% to $18.59 on high volume. In the past one month, the stock is up over 11%.
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) climbed 2.54% to $10.07. In the past one year, the stock is up over 26%.
Shanda Games Limited(ADR) (NASDAQ:GAME) also rose 1.25% to $6.58.
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