Although GameStop's mobile and digital business is growing, it's not enough to make up for a shrinking market for packaged games. The company did not provide a specific figure, but said the sector was up 23% year-over year.
For the three months ending on April 28, GameStop posted total global sales of $2 billion, down 12.2% from the $2.28 billion recorded last year. Net income hit $72.5 million, a dip from the $80.4 million a year ago.
New game software was the biggest contributor to GameStop's bottom line during the period, accounting for $731.1 million and 36.5% of total sales. The next significant contributor was used software and hardware sales, which accounted for 30.9% of total revenue, or $619 million. New game hardware sales for the period hit $348.6 million, and made up 17.4% of total revenue. GameStop's "other" category, which houses its digital and mobile businesses, accounted for $303.5 million or 15.2% of total sales.
Looking to its current fiscal quarter, GameStop said it expects store sales to fall 11% to 5%, with full-year revenue expected to range from down 5% to flat.