GameStop shares dip as income falls in need of expectations


NEW YORK – GameStop Corp . (NYSE:GME) reported combined third-quarter outcomes on Tuesday, with earnings beating estimates however income falling in need of expectations, sending shares down 1% in after-hours buying and selling.

The online game retailer posted adjusted earnings per share of $0.06, surpassing the analyst consensus estimate of a $0.05 loss. Nevertheless, income got here in at $860.3 million, lacking the $919.9 million analysts have been anticipating and declining 20.2% year-over-year from $1.08 billion.

GameStop’s web gross sales breakdown for the quarter confirmed {hardware} and equipment income of $417.4 million, software program income of $271.8 million, and collectibles income of $171.1 million.

The corporate reported web earnings of $17.4 million for the quarter, in comparison with a web lack of $3.1 million in the identical interval final yr. GameStop ended the quarter with $4.62 billion in money and marketable securities.

“We stay targeted on right-sizing our value construction whereas investing in progress initiatives,” mentioned CEO Matt Furlong in an announcement.

This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.

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