Used Game Make Up 49% of GameStop Q1 Profit

Games retailer giant GameStop released its financial results for the first quarter of its 2008 fiscal year, revealing a total of $1.8B in sales for the quarter ending May 3.

The sales figures represent an almost 42% boost in sales over the first quarter of GameStop's 2007 fiscal year, in which the retailer raked in $1.2B.

Sales of new video game software grew by 72%, led by GameStop's top five selling games: Rockstar's Grand Theft Auto IV, Nintendo's Super Smash Bros. Brawl and Mario Kart Wii, Ubisoft's Rainbow Six: Vegas 2 and EA's Army of Two.

The retailer also revealed that used video game products represented $415M, or 23.9% of total sales. As was the case in previous years, used game sales dominated the company's gross profit figures, accounting for 49.1%—or $204M—of GameStop's total profit in the first quarter of 2008.