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GameStop Shares Down Following EPS Miss

Published 12/08/2021, 04:20 PM
Updated 12/08/2021, 04:24 PM
© Reuters

By Sam Boughedda

Investing.com — GameStop Corp (NYSE:GME) shares have fallen after hours on the back of its third quarter earnings, which saw it miss on EPS expectations but report higher than anticipated revenue.

The video game retailer announced a loss per share of $1.39 on revenue of $1.297 billion. Analysts polled by Investing.com anticipated a per-share loss of 52 cents on revenue of $1.19 billion.

GameStop shares have reacted negatively to the report, currently down 3%.

The company's increase in sales was attributed to new and expanded brand relationships, such as Samsung (KS:005930), LG, Razer, Vizio and others, contributing to GME's growth in the quarter.

GameStop said its inventory was $1.141 billion at the close of the quarter, compared to $861 million at the close of the third quarter of 2020. This reflected the company's focus on "front-loading investments in inventory to meet increased customer demand and mitigate supply chain issues."

Latest comments

🚀To the moon
I have never been so bullish on GME like I am now. Earnings, and forecast look promising. Will continue to buy whatever dip, and hold. EPS will be positive soon.
This isn't news. Everyone knows honest businesses like Gamestop are struggling in the wake of the pandemic. News is the fact that Federal Reserve Board members openly engage in insider trading with no fines or penalty. News is dark pools engage in naked shorting of stocks and SEC does not investigate. News is RobinHood and other brokerages disabled the buy button in an effort to engage in price manipulation of stocks. Tell people something they don't know - - that's news.
this
GameStop FGTeeV shopping
Up revenue, down EPS. Whatever. These are the same analysts who predicted GME would bankrupt. Can't bankrupt a company that has no debt
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