Q3 sales up 20.5% at GameStop as grand Theft Auto V and 3DS star

GameStop has reported a strong set of numbers for the quarter ending November 2nd.

The world’s largest games retailer has reported a like-for-like sales increase of 20.5 per cent for the period, well ahead of forecasted levels. Net earnings grew 45.3 per cent to $68.6m.

New game sales grew 43.1 per cent driven by the staggering performance of Grand Theft Auto V. New hardware sales grew 15.3 per cent with both the 3DS and 2DS singled out for their strong showings.

Mobile and digital sales grew 14.4 per cent to $49.9m.

Our strong third quarter sales results give us great momentum as we enter the new console cycle,” CEO Paul Raines said. Consumer appetite for the new consoles is very strong judging by last week’s successful PS4 launch and the excitement for tonight’s Xbox One launch event.”

For Q4 GameStop expects like-for-like sales to grow anything between two and nine per cent. Full year like-for-likes are predicted to grow between 1.5 and 4.5 per cent.