GameStop's profit forecast disappoints, shares fall

GameStop Corp, the world's largest retailer of video game products, forecast earnings for the crucial holiday shopping quarter that fell short of Wall Street expectations, sending its shares down over 10 percent in morning trading on the Nasdaq. Analysts on average expected $2.15, according to Thomson Reuters I/B/E/S. While early indicators show a promising start to sales of the just-launched PlayStation 4 from Sony Corp and pre-orders of the upcoming Xbox One from Microsoft Corp consoles, GameStop expects to see some uncertainties following the release of the new devices in the fourth quarter, Chief Executive Officer Paul Raines said.

via Tech News Headlines - Yahoo! News http://news.yahoo.com/gamestop-revenue-rises-19-percent-strong-game-sales-135013821--finance.html