GameStop's profit forecast misses St as older game sales lag

GameStop Corp, the world's largest videogame retailer, warned of lower-than-expected profit as sales sagged for games played on older versions of Xbox and PlayStation consoles. Microsoft Corp launched the latest version of its Xbox in November, selling three million consoles by the end of December. Sony Corp has sold 4.2 million PlayStation 4 consoles as of December 2 after launching it in November. GameStop said on Tuesday that sales fell 22.5 percent in its new software business as a greater-than-expected decline in sales of older versions of the games offset strong demand for software for the new consoles.

via Tech News Headlines - Yahoo News http://news.yahoo.com/gamestop-39-fourth-quarter-profit-forecast-misses-estimates-140622586--sector.html