Gamestop Q2 financials anchored by strong used game and digital sales
GameStop's total sales were down 3.1% in the quarter ending July 30, 2011 -- $1.74 billion in sales this quarter compared to $1.8 billion in the same period last year. A boon for the company has been (get this!) used game and digital sales, which both rose 12% and 69% year-over-year, respectively. Digital sales are up 16% compared to Q1 of 2011 and with the recent announcement of downloadable PC games being sold at retail, we wouldn't be surprised to see even greater digital revenue in Q3.
GameStop also cited lower hardware sales and fewer games this quarter compared to last year, both of which the company said contributed to an overall lower quarter for store sales, down 9.1%. The retailer also reported diminished net sales of $30.9 million compared to $40.3 million in 2010.
LA Noire, NCAA Football 12, Infamous 2, Brink and Mortal Kombat were GameStop's top earners in the quarter, spanning the classic genres of shooters, sports games, fighters and whatever you'd call LA Noire. Crime drama genre? The "character actor did it" genre?
