, a video game and entertainment software seller, said first-quarter sales rose 27.7%, aided by strong performances in software sales and resurgent growth in hardware.
Sales totaled $474.7 million in the first quarter, up from $371.7 million in the prior year. Video game software sales rose 20.7%, while same-store sales increased 12%.
Net earnings for the first quarter were $10.3 million, or 19 cents a share.
For the second quarter, GameStop expects same-store sales growth of 5% to 7%, with earnings of 14 cents to 15 cents a share. The company forecast a full-year profit of $1.30 to $1.40, without taking into consideration the planned merger with
. GameStop will update guidance for the combined company after the closing of the planned merger.
Analysts polled by Thomson First Call expected earnings of 17 cents a share for the first quarter. The consensus profit estimates are 14 cents for the second quarter and $1.41 for the fiscal year.
Shares of GameStop were up $1.24, or 4%, to $29.78 Tuesday.