GameStop: Fiscal 2Q Earnings Snapshot
Sep. 06, 2018
GRAPEVINE, Texas (AP) _ GameStop Corp. (GME) on Thursday reported a fiscal second-quarter loss of $24.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Grapevine, Texas-based company said it had a loss of 24 cents. Earnings, adjusted for pretax expenses, were 5 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The video game retailer posted revenue of $1.65 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $1.6 billion.
GameStop expects full-year earnings in the range of $3 to $3.35 per share.
GameStop shares have declined nearly 10 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 8 percent. In the final minutes of trading on Thursday, shares hit $16.21, a drop of 16 percent in the last 12 months.