Despite Arrival of Grand Theft Auto IV, April Videogame Software Sales Miss Expectations
Videogame software stocks are under some selling pressure today after industry tracker NPD reported April sales that came up short of some estimates.
NPD said video game software sales grew 68% year over year in the quarter. Pacific Crest’s Evan Wilson this morning writes that he had had expected 120% growth. “Results for April are much lower than we had expected across the board, and other forecasts we have seen are not far from our expectations,” he wrote. “Although the data has been incorrect in the past, we checked with NPD and they said they have no reason to believe the current data is incorrect.”