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Gamestop Corporation latest 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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