GameStop: Fiscal 4Q Earnings Snapshot
GRAPEVINE, Texas (AP) _ GameStop Corp. (GME) on Tuesday reported a loss of $187.7 million in its fiscal fourth quarter.
On a per-share basis, the Grapevine, Texas-based company said it had a loss of $1.84. Earnings, adjusted for one-time gains and costs, were $1.45 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.
The video game retailer posted revenue of $3.06 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $3.28 billion.
For the year, the company reported a loss of $673 million, or $6.59 per share, swinging to a loss in the period. Revenue was reported as $8.29 billion.
GameStop shares have declined 20 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 14 percent. In the final minutes of trading on Tuesday, shares hit $10.10, a fall of 21 percent in the last 12 months.