This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Video Games Sales See Record Decline

NEW YORK ( TheStreet) -- Video game sales saw their biggest decline in nearly a year, plunging 26% to $766.2 million in April.

The drop, the fourth largest in history, is at least partially attributable to the shift in the Easter holiday, according to the NPD Group. Still, the lack of new game launches also hurt sales.

Hardware sales tumbled 37% to $249.3 million, while software sales tanked 22% to $398.5 million. Sony's (SNE - Get Report) PlayStation 3 and Microsoft's Xbox 360 were the only systems to see growth year-over-year.

VMware's Maritz on Finding Humility (Forbes)

The portable business also weighed down results. The Nintendo DS, for one, sank 71%, selling just 440,800 of the devices, compared to over 1 million last year.

The unexpected weakness in the sales tally could hit video game stocks today, with investors focusing on names like GameStop (GME - Get Report) and Electronic Arts (ERTS).

Concerns have persisted on how the video game industry will be affected by free games on social networking sites and on Apple's (AAPL) iPad and iPhone devices.

But there is at least some newness to look forward to later in the year. Both Sony and Microsoft (MSFT - Get Report) are expected to launch motion technology for their consoles to enhance gaming, while Nintendo may also reveal a 3-D version of its DS handheld system.

-- Reported by Jeanine Poggi in New York

Follow Jeanine Poggi on Twitter and become a fan of TheStreet on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG
GME $40.88 0.27%
MSFT $46.98 -0.93%
SNE $31.77 -0.13%
AAPL $132.50 0.84%
FB $81.05 0.71%

Markets

DOW 18,231.62 -54.12 -0.30%
S&P 500 2,130.12 -0.70 -0.03%
NASDAQ 5,100.9260 +10.1320 0.20%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs