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Friday, January 15, 2021

GameStop: Fiscal 3Q Earnings Snapshot

GRAPEVINE, Texas (AP) GameStop Corp. (GME) on Tuesday reported a loss of $18.8 million in its fiscal third quarter.

The Grapevine-based company said it had a loss of 29 cents per share. Losses, adjusted for non-recurring gains, were 53 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.

The video game retailer posted revenue of $1 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.11 billion.

GameStop shares have more than doubled since the beginning of the year, while the Standard & Poor’s 500 index has risen 15%. GameStop Corp., down $3.28 to $13.66 on Wednesday.

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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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