GameStop global sales hit $2.11 billion, store sales rise 20.5 percent

Video game retailer GameStop reported total global sales of $2.11 billion for the third financial quarter ending Nov. 2, 2013, as well as a 20.5 percent increase in comparable store sales, in a financial report released today.

Total global sales for this third quarter reflected an 18.8 percent increase from the same period last year, when sales hit $1.77 billion.

New software sales for the quarter increased by 43.1, which the company attributed to the "strong performance" of recently-released games — using Rockstar Games' Grand Theft Auto 5 as its strongest example example. New hardware sales rose 15.3 percent due to sell-through of the Nintendo 2DS and 3DS handhelds. Conversely, pre-owned sales decreased by two percent.

GameStop's newer mobile sector saw sales and receipts rise 14.4 percent to $49.9 million, while its digital sector rose 8.6 percent to $137.9 million.

Net earnings rose 45.3 percent from last year's adjusted net income of $47.2 million, reaching $68.6 million this quarter.

"Our strong third quarter sales results give us great momentum as we enter the new console cycle," said GameStop CEO Paul Raines in a financial statement. "Consumer appetite for the new consoles is very strong judging by last week's successful PS4 launch and the excitement for tonight's Xbox One launch event. Globally, we are executing our unique playbook to maximize our position of strength."

Last quarter, GameStop reported significant drops in year-over-year income, though overall sales were better than expected at the time.