GameStop (NYSE:GME) reported its latest quarterly earnings results and it confirmed that it is actively exploring a sale late in the day Thursday, sending shares down nearly 3%.
The video game retailer said that for its second quarter of fiscal 2018, it posted a net loss of $24.9 million, or 24 cents per share. The figure was considerably worse than its year-ago results, when it amassed a profit of $22.2 million, or 22 cents per share.
On an adjusted basis, GameStop brought in a profit 5 cents per share, below the year-ago earnings of 15 cents per share. Analysts were calling for the company to bring in adjusted earnings of 8 cents per share, according to FactSet.
The company added that its revenue for the second quarter tallied up to $1.65 billion, which was also a decline from the $1.69 billion it raked in during the year-ago quarter. The Wall Street consensus estimate was projecting GameStop to bring in sales of $1.62 billion, according to FactSet.
The video game company added that it is still talking to third parties as it explores a potential sale “as part of a comprehensive review of strategic and financial alternatives initiated by the company’s board of directors.”
GME stock fell about 0.7% during regular trading hours in anticipation of the company’s quarterly earnings showing. The earnings miss and sales talks caused its shares to decline about 2.9% after the bell Thursday.
