The Texas-based multichannel video game retailer reported global sales of $2.09 billion, a decline of 0.7% compared to $2.11 billion in the prior year quarter. Adjusted diluted earnings per share were 57 cents compared to adjusted diluted earnings per share of 58 cents in the prior year quarter.
"Overall, most of our major product categories performed very well, but our third quarter results were impacted by Assassin's Creed Unity moving out of October," CEO Paul Raines said.
Additionally, based on several titles being moved out of 2014 and the current sales trends of prior generation software, GameStop narrowed its previous guidance.
For the fourth quarter of fiscal 2014, GameStop expects comparable store sales to range from -5% to 2%. Diluted earnings per share are expected to range from $2.08 to $2.24, representing 10% to 18.5% growth over the prior year quarter.
Separtately, TheStreet Ratings team rates GAMESTOP CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GAMESTOP CORP (GME) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: GME Ratings Report