GameStop Swings to Unexpected Profit Even as Sales Slide
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GameStop Corp. reported a fourth consecutive quarter of falling sales, though the video-game retailer reported an unexpected profit.
Revenue fell 31% from a year earlier to $798 million for the second quarter ended Aug. 3, the company said in a statement Tuesday. That compares with the $895.5 million average of two analysts’ estimates, according to data compiled by Bloomberg. Net income was $14.8 million, compared with a loss of $2.8 million a year ago.