GameStop profit drops in Q2 on slow video game sales

Grapevine, Texas -- GameStop Corp. reported Thursday that net income for the quarter ended July 30 dropped 23% to $30.9 million, compared with $40.3 million in the year-ago period. The company cited slowing video game sales for the lackluster performance. Revenue fell 3% to $1.74 billion, missing expectations, and same-store sales dropped 9.1%.