GameStop Corp. (GME) reported second quarter adjusted EPS of $0.31 after the close Thursday, which exceeded the consensus estimate of $0.25. Sales rose 1.8 percent to $1.76 billion from $1.73 billion a year ago. Analysts expected revenues of $1.74 billion.
Third quarter EPS is expected to be between $0.53 and $0.60, compared to the consensus estimate of $0.59. The company also increased its full year adjusted EPS forecast to between $3.66 and $3.86, from prior expectations of $3.63 to $3.83. The consensus estimates is for EPS of $3.88.
GameStop gapped open lower Friday and has continued to decline in early trade. The stock is now down 4.06 at $42.14 on above average volume. GameStop has dropped to a 1-week low.
For comments and feedback contact: editorial@rttnews.com
Business News