GameStop reports 11% increase in Q3 earnings

By Stephany Nunneley

GameStop’s Q3 financial report has revealed an increase in net earnings of 11.8 percent.

Earnings for the quarter ending October 31 amounted to $52.2 million compared to $46.7 million for the same quarter in 2008.

Sales increased 8.2 percent to $1.83 billion with used sales up 19.4 percent compared to 19.3 percent for 2008’s third quarter, and new software sales grew 9.4 percent.

With the release of Modern Warfare 2, New Super Mario Bros. Wii and Assassin’s Creed 2, GameStop predicts strong earnings and sales for Q4.

The top five games for Q3 were Batman: Arkham Asylum, Halo 3: ODST, Madden NFL 10, NBA 2K10 and Wii Sports Resort.

Thanks, GI.biz.