Lower Pre-Owned Video Game Products Sales Will Likely Weigh On GameStop's Near-Term Earnings [Forbes]
GameStop Corporation (GME)
Last gamestop corporation earnings: 3/26 04:06 pm
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Source: Forbes
Nintendo Co. Wii video games are displayed for sale inside a GameStop Corp. store in Louisville, Kentucky, on Thursday, March 15, 2018. G(Photographer: Luke Sharrett/Bloomberg) © 2018 Bloomberg Finance LP GameStop Inc (NYSE:GME) recently posted its Q3 FY 2018 results, which were below the street estimates. The company incurred a $587.5 million asset impairment charge primarily related to goodwill in Q3. It also lowered its fiscal 2018 guidance, which led to a sell off in the share price, following the earnings release. Looking forward, we forecast a mid-single digit decline in the company’s overall revenues for the full year, primarily led by lower pre-owned video game products sales. Separately, the company’s decision to sell its Spring Mobile business will help it focus on the core video game business, and also reduce its debt. We have created an interactive dashboard analysis ~ What Is The Near-Term Outlook For GameStop ~ that shows the company’s expect
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