GameStop shares tank despite earnings beat [CNBC]
GameStop Corporation (GME)
Last gamestop corporation earnings: 3/26 04:06 pm
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Source: CNBC
GameStop posted an earnings beat on a 3.8 percent increase in net growth. The company will look to new business including collectibles and telecommunications to continue its growth. CEO Paul Raines says the video game business is cyclical and these new ventures should help offset slow sales periods. 22 Mins Ago CNBC.com SHARES show chapters Shares of GameStop tanked in premarket trading Friday, a day after its earnings statement exceeded expectations . The stock was down 8 percent shortly before the opening bell. On Thursday, the company reported 3.8 percent net growth in the first quarter on the back of Nintendo Switch hardware sales and said established store sales increased 2.3 percent, despite Wall Street expectations that GameStop would post a decrease in sales. So why the selloff? For one, GameStop's net income decreased from $65.8 million in the year-ago quarter to $59 million. Also, Wall St
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GME
Earnings
- 3/26/24 - Miss
GME
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 144
- 4/23/24 - Form 144
- GME's page on the SEC website