GameStop Corp., the video-game chain that said this week its CEO had surgery for brain cancer, surged the most in a year after reporting profit that beat estimates as consumers bought new players and software.

Net income more than doubled to $24.6 million, or 22 cents a share, from a year arlier, GameStopsaid in a statement yesterday. Analysts on average predicted 18 cents, according to data compiled by Bloomberg.

Consumers are upgrading to the new generation of game players, Sony’s PlayStation 4 and Microsoft’s Xbox One, and buying new titles with snappier graphics. Sony said last week that worldwide sales of the PS4 have exceeded 10 million units, a record for its PlayStation devices.

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Source: http://adage.com/article/digital/video-game-console-sales-exceed-expectations-gamestop/294676/?utm_source=Digital&utm_medium=feed&utm_campaign=Feed:+AdvertisingAge/Digital

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