Gamestop's fourth-quarter profit forecast misses estimates

Tue Jan 14, 2014 9:04am EST

Jan 14 (Reuters) - Gamestop Corp forecast fourth-quarter profit below analysts' estimates, hurt by a bigger-than-expected decline in sales of new game titles for Xbox 360 and PlayStation 3, sending its shares down 12 percent.

The world's largest retailer of video game products said it expects earnings to be between $1.85 and $1.95 per share.

Analysts on average were expecting a profit of $2.14 per share, according to Thomson Reuters I/B/E/S. (Reporting By Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.