GameStop: Fiscal 2Q Earnings Snapshot
GRAPEVINE, Texas (AP) _ GameStop Corp. (GME) on Tuesday reported a loss of $415.3 million in its fiscal second quarter.
On a per-share basis, the Grapevine, Texas-based company said it had a loss of $4.15. Losses, adjusted for one-time gains and costs, were 32 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The video game retailer posted revenue of $1.29 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.37 billion.
GameStop expects full-year earnings in the range of $1.15 to $1.30 per share.
GameStop shares have decreased 60% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. In the final minutes of trading on Tuesday, shares hit $5.06, a decrease of 68% in the last 12 months.