MSFT: sold 39 million 360 consoles world-wide, 20 million are on Xbox Live. 500 million 360 games have been sold since launch, 13 per console
SNE: last five weeks of 2009 sold 3.8 million PS3 systems, up 76% y/y. There are 38 million registered PSN accounts world-wide. PS3 can run 3D games and movies after a firm-ware update
GME: reports 9 week holiday sales for $2.86 billion, flat y/y. Comp store sales -8.6%. They had shortages of New Super Mario Bros Wii, Nintendo Wii, and PS3. New software +4% y/y. Top five sellers were Call of Duty: Modern Warfare 2 from Activision, Ubisoft’s Assassin’s Creed II, Nintendo’s New Super Mario Bros. Wii, Left 4 Dead 2 and Dragon Age: Origins from Electronic Arts. Hardware -8% y/y with price cuts and decline in units y/y. Used products +10% y/y.
Q4 2009 EPS 1.25-1.29 vs. 1.57 est. (comp -8.5 to -9.5), full year 2.23-2.27 vs. 2.55 est. (comp -8 to -9).
Although we are still in the planning stages for our fiscal year 2010, we expect that strong PlayStation 3 demand, an exciting title line-up, combined with anticipated economic recovery, will all be factors that should drive software growth and therefore GameStop earnings in 2010.
Note: Please check out the GME channel check I posted on December 28th, 2009 (Link). It nailed the shortages in PS3 and New Super Mario Bros. Wii and talked about the big promotions right at end of December, which was kind of fishy and wound up hurting their margins.