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GameStop jumps on hardware demand

GameStop had struggled with a slowdown in sales of video game discs as rivals grew their digital offerings.Ethan Miller/Getty Images/FILE

Shares of GameStop Corp. rose as second-quarter profit more than doubled on booming demand for new video game consoles that sharply lifted hardware sales. The Texas-based electronics and software retailer said new hardware sales more than doubled in the period, on demand for Microsoft’s Xbox One and Sony’s PlayStation 4. GameStop also reported 16 percent sales growth in software for new consoles, driven by such titles as “Watch Dogs,” and “Mario Kart 8.”