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Monday, January 18, 2021

GameStop: Fiscal 2Q Earnings Snapshot

GRAPEVINE, Texas (AP) _ GameStop Corp. (GME) on Wednesday reported a loss of $111.3 million in its fiscal second quarter.

On a per-share basis, the Grapevine, Texas-based company said it had a loss of $1.71. Losses, adjusted for one-time gains and costs, were $1.40 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.27 per share.

The video game retailer posted revenue of $942 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $937.5 million.
GameStop shares have risen 22% since the beginning of the year, while the Standard & Poor’s 500 index has risen 5.5%. In the final minutes of trading on Wednesday, shares hit $7.39, an increase of 55% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GME at https://www.zacks.com/ap/GME


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