Analysts: GameStop's Q3 performance underplayed by general market |
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It looks like GameStop's performance in this year's third quarter was being downplayed by several market analysts. According to Wedbush Morgan's Michael Pachter, he and a few other analysts were "baffled" by the market's general reaction towards GameStop's earnings report, which was less than favorable. He continued,While some investors are apparently dissatisfied that company guidance is below street expectations for Q4... We believe that management is prudently offering guidance that it is confident it can achieve.
Two other analysts, Mike Hickey from Janco and Arvind Bhatia from Stern Agee, agreed with the opinion that the market downplayed GameStop's achievement, and that the retailer will not have any difficulty in achieving its Q4 goals.
It should be noted that GameStop enjoyed a sales boost thanks to outstanding games such as Guitar Hero III: Legends of Rock (Xbox 360, PlayStation 3, Wii, PC), Halo 3, and Madden NFL 08 (PC, Xbox 360, PS2, PS3, PSP, Wii, DS), among others.
The sales from the above games boosted GameStop's profits up by 283% to US$ 52 million.
Via Gamasutra
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Comments [refresh]
If everyone had the same customer service from Gamestop as I have had (and my roommates), then i'm surprised they're still in business!!
Q4 goals?? through the floor anyone?
Not everyone has a crappy "I'm better than you" GameStop by them.
I know someone who runs a store the way it was supposed to, the customer comes first and they just enjoy video games and talking about them... Sure, you still have the usual GameStop problems like opened games, buying a magazine sub despite having the internets, and the pressure to reserve a game that you were going to buy anyways from that store but you tend to forget how much you hate that if you get good service...
I would contact a DM and get all of them fired....