It was a happy holiday season for GameStop.

The retailer reported their fiscal fourth quarter earnings today and perhaps unsurprisingly, the new game consoles helped the retailer reach a quarterly revenue of $3.68 billion, up 3.4 percent year-over-year. Of that lofty number, the company raked in $3.15 billion during the 9-week holiday period alone.

Comparable store sales jumped 7.8 percent and according to GameStop CEO Paul Raines, the PlayStation 4 and Xbox One launches really helped to enliven the industry. Oh, and the retailer's market share hit an all-time high, too. Said Raines:

"The launch of new consoles in 2013 marked the return of innovation to the video game category and GameStop's market share increased to an all-time high. Our emerging digital and mobile businesses, which did not exist three years ago, surpassed $1 billion of revenue."

Total fourth-quarter net earnings came in at $220.5 million, which was down from the $261.1 million posted last year. This included asset impairment charges of $28.7 million, though, mostly due to the closing of Spawn Labs. As for cloud-based delivery, GameStop says it's "potentially revolutionary" but thus far, the consumer hasn't proven that he's ready to fully embrace this type of service.

New consoles are a boon for everyone!

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Underdog15
Underdog15
7 years ago

Makes sense. Shopping for games is not just about finding something you want to buy. There's a hobbyist mentality to it, too. Lots of people just love browsing… picking up games and looking at the backs…. seeing the collectable items they have for sale… etc. etc.

In that sense, it's more enjoyable to buy from an actual store than just download what you want.

WorldEndsWithMe
WorldEndsWithMe
7 years ago

That's why I liked video rental stores, and now they are gone… 🙁

Underdog15
Underdog15
7 years ago

I miss them, too.

WorldEndsWithMe
WorldEndsWithMe
7 years ago

I don't think we've seen the return of innovation yet, but perhaps he means that expectation of innovation spurred sales.

Bio
Bio
7 years ago

GameStop's pretty much the one entity that doesn't deserve to benefit from new consoles, though.

Corvo
Corvo
7 years ago

Hey gamestop, give some of that money back to the devs eh?

MRSUCCESS
MRSUCCESS
7 years ago

I prefer to give my money to local stores. Not only do they know who I am from the few visits I do bi monthly, but they also hook me up with new games before they're released.

They're not supposed to do that, but in this monetary system there are loop holes EVERYWHERE.

WorldEndsWithMe
WorldEndsWithMe
7 years ago

which monetary system?

MRSUCCESS
MRSUCCESS
7 years ago

Capitalism

PlatformGamerNZ
PlatformGamerNZ
7 years ago

well i suppose this is gud but i think at least they see we don't want this whole cloud gaming thing right now and not for awhile

happy gaming =)

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