GameStop Profits Jump 11% in 2014 - NewsWilliam D'Angelo , posted on 29 March 2015 / 2,968 Views
GameStop has released their full fiscal year figures for the year 2014, which ended on January 31. Revenue increased two percent year-over-year to $9.3 billion. Profits increased 11 percent to $393.1 million.
New hardware sales saw a big jump with a 17 percent increase year-over-year to $2.03 billion. Mobile and consumer electronics saw sales increase 71 percent to $518.8 million. New software sales dropped by 11 percent $3.09 billion.
In our core video game business, we achieved our highest market share in history with 28 percent share of next-generation hardware, 46 percent share of next-generation software and an estimated 42 percent share of downloadable content," said GameStop CEO Paul Raines.
"Meanwhile, our Technology Brands segment exceeded expectations, contributing 5 percent to our operating income and to our highest-ever annual gross margin of 29.9 percent, as we rapidly expanded the footprint of our AT&T wireless and Apple retail businesses."
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. Outside, in the real world, he has a passion for the outdoors which includes everything from hiking to having received his B.A. in Environmental Studies. You can contact the author at email@example.com or on Twitter @TrunksWD.