GameStop Corp. shares dropped in the extended session Tuesday after the video game retailer's results and outlook fell well short of Wall Street...
GameStop Corp. GME, +2.84% shares dropped in the extended session Tuesday after the video game retailer's results and outlook fell well short of Wall Street expectations. GameStop shares dropped 21% after hours, following a 2.8% rise in the regular session to close at $6.51. GameStop forecast adjusted full-year earnings of 10 cents to 20 cents a share with a decline in same store sales "in the high-teens," while analysts surveyed by FactSet had forecast $1.21 a share on a 0.
78 a share, in the year-ago period. The company reported an adjusted loss of 49 cents a share. Revenue declined to $1.44 billion from $1.94 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 11 cents on revenue of $1.62 billion.
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