GameStop reports record sales thanks to next-gen consoles

29.7 % increase in new hardware sales

GameStop broke their 2011 sales record this year, thanks to the PS4 and Xbox One. They report that total sales topped $9.04 billion, up 1.7 percent from fiscal year 2012. They count a 29.7 increase in new game hardware sales for the year, crediting both of the new consoles for this.

In their earnings release, CEO Paul Raines said, “The launch of new consoles in 2013 marked the return of innovation to the video game category and GameStop’s market share increased to an all-time high. Our emerging digital and mobile businesses, which did not exist three years ago, surpassed $1 billion of revenue.”

But even with all of this, GameStop still missed their last quarter goals. Their share price fell a bit this morning.

Dale North