(Reuters) – GameStop Corp
The company’s shares were up nearly 2 percent after the bell on Wednesday.
GameStop also reported a 12.2 percent jump in same-store sales, above analysts’ average estimate of a 9.32 percent rise, according to Thomson Reuters I/B/E/S.
Sales in the company’s core video game retail business, which makes up about 30 percent of revenue, rose 12.4 percent to $1.04 billion, while sales in its hardware business jumped nearly 45 percent to $844 million.
However, GameStop reported a net loss of $105.9 million, or $1.04 per share, in the fourth quarter ended Feb. 3, compared with a profit of $208.7 million, or $2.04 per share, a year earlier.
The quarter included asset impairment and other charges of $406.5 million, the company said.
Grapevine, Texas-based GameStop had warned it would take a charge in the range of $350 million to $400 million in the fourth quarter, mainly related to its technology brands business.
Excluding items, GameStop earned $2.02 per share, beating analysts average estimate of $1.97 per share.
Sales rose 15 percent to $3.50 billion, also above estimate of $3.27 billion.
(Reporting by Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila)