GameStop (NYSE:GME) earnings for fiscal fourth quarter of 2019 have GME stock soaring higher after-hours Thursday. That’s thanks to its adjusted earnings per share (EPS) of $1.27, which is better than Wall Street’s estimate of 79 cents. The video game retail company’s revenue of $2.19 billion, on the other hand, is below analysts’ estimates of $2.24 billion.
Here’s what else is worth pointing out from the most recent GameStop earnings report.
- Adjusted per-share earnings are down 12.41% from $1.45 in the same period of the year prior.
- Revenue for the quarter is 28.43% lower than the $3.06 billion in the fiscal fourth quarter of 2018.
- Operating income of $75.2 million is a positive switch year-over-year from an operating loss of $232.1 million.
- The GameStop earnings report also has it bringing in a net income of $21 million.
- That’s much better than the company’s net loss of $187.7 million from the same time last year.
George Sherman, CEO of GameStop, said this about the GME stock earnings report:
“As we begin fiscal 2020, we remain focused on our key priorities, yet recognize that we continue to face the temporary headwind of lower current generation console hardware and software sales as consumers delay purchases in anticipation of new platform launches expected later in the year. “
The GameStop earnings report doesn’t include its outlook for fiscal 2020. This is due to the ongoing effects of the coronavirus from China.
GME stock was up 13.38% after markets closed Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.