March 28, 2018 / 8:22 PM / 5 months ago

GameStop reports 15 pct rise in revenue on Nintendo Switch demand

March 28 (Reuters) - GameStop Corp, the world’s largest video game and gaming console retailer, reported a 15 percent rise in quarterly revenue on robust demand for the Nintendo Switch console.

The company reported a net loss of $105.9 million, or $1.04 per share, in the fourth quarter ended Feb. 3, compared with a profit of $208.7 million, or $2.04 per share, a year earlier.

The quarter included asset impairment and other charges of $406.5 million, the company said.

GameStop had warned it would take a charge in the range of $350 million to $400 million in the fourth quarter, mainly related to its technology brands business.

Net sales rose to $3.50 billion from $3.05 billion. (Reporting by Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila)

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