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Market Movers

Video game retailer exceeds estimates

For the first quarter, the retailer forecast earnings of 38 cents to 43 cents.

Mario Anzuoni /Reuters

For the first quarter, the retailer forecast earnings of 38 cents to 43 cents.

Texas video game retailer GameStop Corp. said fourth-quarter profit jumped 49 percent as the company trimmed costs, offsetting lower revenue. Results beat estimates as the company said it is looking forward to new game consoles expected from Sony and Microsoft. The firm has struggled as customers increasingly turn to cheaper mobile and social games, and away from more expensive video games and consoles. GameStop projects weaker results for the year.

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