GameStop Corp. Shares Dip as Q1 Revenue Missed Projections

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GameStop Corp. (NYSE:GME) unveiled its latest quarterly earnings results after the bell Thursday, posting earnings that met analysts’ expectations but its revenue was subpar.

GameStop Corp.The video game retailer reported net income of $28.2 million, or 28 cents per share, for its first quarter of the current fiscal year. In the year-ago quarter, the company posted net income that was more than double its most recent income at $59 million, or 58 cents per share.

On an adjusted basis, GameStop announced that it brought in earnings of 38 cents per share. Analysts were calling for the retailer to rake in adjusted earnings of 38 cents per share, according to data compiled from analysts surveyed by FactSet.

The company missed the mark on the revenue front as the figure fell to $1.93 billion from $2.05 billion in the year-ago period. Wall Street was projecting that GameStop would bring in revenue of $1.95 billion, according to data compiled by FactSet.

For its second quarter of the fiscal year, analysts predict that the company will bring in adjusted earnings at a midpoint guidance of 9 cents per share, while the sales midpoint is at $1.63 billion. GameStop reiterated its previous 2018 outlook in the report with adjusted earnings slated to be in the range of $3 to $4.35 per share.

GME stock fell about 1.6% during regular trading hours on speculation of the company reporting subpar quarterly earnings results, then fell 2.8% after the bell after these results arrived.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/gamestop-corp-gme-4/.

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