UPDATE 1-GameStop profit up with strong sale of new games

* GameStop Q1 EPS $0.48 vs Wall St. $0.47 estimate

* Q1 revenue rises 5.1 percent to $2.08 billion

* Shares rise 2.3 percent

NEW YORK, May 20 (BestGrowthStock) – Retailer GameStop Corp (GME.N: )
on Thursday posted stronger quarterly revenue and profit,
helped by sales of new video games including “God of War III”
and “Battlefield Bad Company 2.”

The company said its first-quarter profit (Read more your timing to make a profit.) rose nearly 7
percent to $75.2 million, or 48 cents a share, from $70.4
million, or 42 cents a share in the same period a year ago.
Analysts had expected earnings of 47 cents a share, according
to Thomson Reuters I/B/E/S.

GameStop’s revenue also edged past expectations, rising 5.1
percent to $2.08 billion. Analysts on average had been looking
for quarterly revenue of $2.03 billion.

GameStop maintained its full-year outlook for 2010, saying
earnings could improve 14 percent to 18 percent, marking a
rebound from a disappointing 2009 for the video-game industry.

Shares of GameStop, the world’s largest stand-alone
retailer of video-game software, consoles and accessories, rose
2.4 percent to $21.75 on the New York Stock Exchange.

Investment Research

(Reporting by Paul Thomasch, editing by Maureen Bavdek)

UPDATE 1-GameStop profit up with strong sale of new games