Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

GameStop (GME) Reports Q3: Everything You Need To Know Ahead Of Earnings

Published 12/05/2023, 02:00 AM
Updated 12/05/2023, 06:33 AM
GameStop (GME) Reports Q3: Everything You Need To Know Ahead Of Earnings
GME
-

Video game retailer GameStop (NYSE:GME) will be announcing earnings results tomorrow after the bell. Here's what to expect.

Last quarter GameStop reported revenues of $1.16 billion, up 2.4% year on year, beating analyst revenue expectations by 2%. It was a good quarter for the company, with a beat of analysts' EPS and revenue estimates.

Is GameStop buy or sell heading into the earnings? Find out by reading the original article on StockStory.

This quarter analysts are expecting GameStop's revenue to decline 0.4% year on year to $1.18 billion, improvement on the 8.5% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.

Looking at GameStop's peers in the specialty retail segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Best Buy Co (NYSE:BBY)'s revenues decreased 7.8% year on year, missing analyst estimates by 1.4% and Bath and Body Works reported revenue decline of 2.6% year on year, exceeding estimates by 0.4%. Best Buy Co traded down 2.3% on the results, and Bath and Body Works was flat on the results.

Read the full analysis of Best Buy Co's and Bath and Body Works's results on StockStory.

There has been positive sentiment among investors in the specialty retail segment, with the stocks up on average 13.4% over the last month. GameStop is up 26.1% during the same time, and is heading into the earnings with analyst price target of $13, compared to share price of $17.1.

The author has no position in any of the stocks mentioned.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.