Earnings

GameStop falls more than 7% despite posting narrower loss and rising sales

People walk by a GameStop store in Brooklyn on January 28, 2021 in New York City.
Spencer Platt | Getty Images News | Getty Images

Video game retailer GameStop said Wednesday its fiscal second-quarter losses narrowed as sales rose from a year ago.

Shares of the company fell about 2% in extended trading.

For the quarter ended July 31, the company said it posted a loss of $61.6 million, or 85 cents per share, compared with a loss of $111.3 million, or $1.71 per share, a year ago. On an adjusted basis, GameStop lost 76 cents per share.

Sales rose to $1.18 billion from $942 million a year earlier.

According to Refinitiv, analysts were expected the company to post a loss of 67 cents a share on revenue of $1.12 billion.

This is breaking news. Please check back for updates.

Products You May Like

Articles You May Like

Heat pumps are an energy upgrade for homeowners that’s becoming a climate and financial winner
Corporate Tax Rates around the World, 2022
NFL and Washington Commanders misled public about misconduct probe, House panel says
Taking required minimum distributions? How to reduce the sting of selling in a down market
Hong Kong home prices drop to the lowest in nearly five years — and the worst may not be over

Leave a Reply

Your email address will not be published. Required fields are marked *