GameStop Profit Jumps 134% Year-Over-Year, As The Busy Holiday Season Awaits

GameStop today reported earnings for the second quarter ended August 2, and the results were strong across the board. Overall, the company posted revenue of $1.73 billion for the quarter, up 25.1 percent compared to last year. Meanwhile, profit was $24.6 million, an increase of 134.3 percent compared to last year's net earnings of $10.5 million.

The retailer's digital business was also booming during the quarter, up 17.6 percent to $179.2 million. This was led by strong platform currency, mobile, and Steam Wallet sales, GameStop said. In terms of hardware, GameStop saw new system sales jump 124.8 percent, thanks in part to "worldwide demand" for the Xbox One and PlayStation 4, the company said.

Software sales rose, too, climbing 15.6 percent year-over-year. GameStop called out Watch Dogs and Mario Kart 8 as top-performers during the quarter. GameStop's preowned business also saw positive growth during the period, rising 5.5 percent.

The good news for GameStop didn't stop there, as the retailer's mobile and consumer electronics category rose 85.1 percent, led by strong results for the company's Spring Mobile and Simply Mac business units.

"The second quarter demonstrates the power of the new console cycle and all of our business units, including Technology Brands, positively contributing to the company's sales and profits," CFO Rob Lloyd said in a statement. "The back half of the year is filled with exciting games and products coming to market and I am confident that we are prepared to capitalize on these opportunities."

It wasn't all good news for GameStop during the quarter, however. Last week, GameStop CEO Paul Raines was treated for a brain tumor, though he is expected to make a full recovery.

GameStop will hold a conference call to discuss these results today starting at 2 PM PDT/5PM EDT. Check back later for more. Or stick around here and watch GameStop president Tony Bartel dump ice water on his head to raise awareness for ALS.