Gamestop results miss view, shares fall

NEW YORK (Reuters) - GameStop (GME.N) on Thursday posted quarterly earnings and revenue that missed Wall Street expectations, sending its shares down 9 percent.

The company also said it reduced the final purchase price for its acquisition of French video-game retailer Micromania to $636 million from the previously announced price of $700 million due to foreign exchange rate fluctuations.

It said debt procured for the Micromania deal was expected to be paid off by the end of this fiscal year.

GameStop posted a quarterly net earnings of $46.7 million, or 28 cents a share, compared with $52.0 million, or 31 cents a share in the prior year quarter.

Excluding items such as merger related costs, GameStop would have earned 34 cents a share compared with average analyst estimates for 37 cents a share, according to Reuters Estimates.

GameStop sales rose 5.2 percent to $1.7 billion from $1.6 billion in the prior-year's quarter. On average, analysts had expected revenue of $1.8 billion, according to Reuters Estimates.

GameStop forecast fourth-quarter earnings per share of $1.29 to $1.34 and a comparable-store sales increase in a range of 4 percent to 5 percent.

For the full year it forecast earnings per share of $2.35 to $2.40, which includes 5 cents from the acquisition of Micromania. It sees comparable-store sales rising 10 percent to 11 percent for the full year, with total sales growing between 21 percent and 22 percent.

Its shares fell 8.2 percent to $18.86 in morning trading on New York Stock Exchange.

(Reporting by Sinead Carew, editing by Maureen Bavdek)