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Gamestop Corporation latest news:
GameStop CEO J. Paul Raines to take medical leave
GameStop Corp. said Tuesday it has named Daniel DeMatteo as interim chief executive, replacing J. Paul Raines, who is seeking medical treatment after a reoccurrence of a previously disclosed illness. Raines had a cancerous tumor removed from his brain in 2014. DeMatteo, a co-founder of the company, has previously served as CEO and in other executive roles. Shares were flat premarket, but are down 36% in 2017, while the S&P 500 has gained 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
GameStop reports lower-than-expected quarterly profit
GameStop Corp(GME), the world's largest video game and gaming console retailer, reported a quarterly profit that narrowly missed analysts' estimates as fewer customers shopped for video games at its stores. Shares of the company fell 7.6 percent to $20.13 after the bell on Thursday.
UPDATE 1-GameStop reports lower-than-expected quarterly profit
Aug 24 (Reuters) - GameStop Corp, the world's
largest video game and gaming console retailer, reported a
quarterly profit that narrowly missed analysts' estimates as
fewer customers shopped for video games at its stores.
GameStop beats EPS expectations but shows sales decline in the U.S.
Shares of GameStop Corp. fell more than 6% late Thursday after the specialty retailer missed quarterly earnings expectations and showed a decline in comparable-store sales in the U.S. GameStop said it earned $22.2 million, or 22 cents a share, in the second quarter, compared with $27.9 million, or 27 cents a share, in the year-ago period. Adjusted for one-time items, GameStop earned $14.9 million, or 15 cents a share, in the quarter, compared with $27.9 million, or 27 cents a share, in the prior-year quarter. Revenue rose to $1.69 billion, from $1.63 billion a year ago, and comparable-store sales rose 1.9% as an increase of 9.8% in international sales offset a 1.4% fall in the U.S. Analysts polled by FactSet had expected adjusted earnings of 18 cents a share on sales of $1.64 billion. The shares ended the regular trading session up 1.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
What to Expect When GameStop Reports After the Close
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