UPDATE: GameStop Posts Decline In Q1 Profit

GameStop Corp

reported a drop in its profit and sales in the first quarter. GameStop's quarterly total revenue declined 12% to $2.00 billion. Net income attributable to GameStop fell to $72.5 million, or $0.54 per share, versus $80.4 million, or $0.56 per share, in the year-earlier period. GameStop shares closed at $20.84 yesterday.