UPDATE: GameStop Reports Decline In Q2 Profit; Shares Down In Pre-Market

GameStop Corp (NYSE: GME) reported a decline in its quarterly profit.

GameStop reported its second-quarter net income at $30.6 million, or $0.22 per share, down from $39.8 million, or $0.26 per share, in the year-ago period. The company's sales came in at $1.7 billion. However, analysts were expecting earnings of $0.22 per share on revenue of $1.83 billion.

GameStop projects Q3 comparable store sales to rise 2% to 4%.

GameStop shares dropped 5.47% to $19.34 in pre-market trading.