What is wrong with this market, Purchased GME 51.18 now they report what I thought was very good....GameStop Corp.'s (
GME) third-quarter income increased to $52 million, or 31 cents a share, from $13.6 million, or 9 cents a share, a year earlier.
The Grapevine, Texas, video game and entertainment software retailer said sales increased 59.3% to $1.61 billion from $1.01 billion.
Comparable store sales, or sales of stores open a year, rose 46.3%, beating previous guidance of 30% to 32%.
GameStop expects fourth-quarter comparable store sales to increase 7% to 9%.
The company also predicts earnings of 95 cents to 97 cents a share for the fourth quarter.
GameStop increased its guidance for 2007 income to $1.61 to $1.63 a share, and revenue is expected to grow 28% to 29%.
The company predicts comparable store sales for 2007 to increase 20% to 21%.
And yet its dropping...... next quarter should be even better after the holidays but Im kinda gun shy on picking up more shares....any suggestions? Thanks in advance