Meme stock GameStop slumps as revenue drop fans turnaround doubts
Shares of GameStop , a widely watched meme stock, tumbled 10% in premarket trading on Wednesday after the video game retailer reported a bigger drop in quarterly revenue, questioning its ability to revitalize its business.
GameStop Reports Weak Sales, Joins Petco, Relay Therapeutics And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
U.S. stock futures were lower this morning, with the Dow futures falling around 150 points on Wednesday.
GameStop Stock Tumbles Despite Surprise Profit in Earnings. This Is Why.
The videogame retailer reported earnings of 4 cents per share for the three months ended Aug. 4, beating expectations for a 9 cents per-share loss.
GameStop tumbles despite first second quarter profit in seven years
GameStop Corp (NYSE:GME) shares continued to fall in aftermarket trading despite the retailer announcing its first profitable second quarter in seven years. Net income came in at $14.8 million for the three-months to June, a significant turnaround from a $2.8 million loss in the same period last year.
GameStop's Recent Plunge Is Very Much Warranted
GameStop's Q2 2024 revenue fell 31.4%, missing expectations, but earnings exceeded forecasts, highlighting a significant sales drop despite bottom-line improvements. The company's bleak future stems from missed opportunities to reinvent itself, with declining hardware, software, and collectibles sales harming it today. GameStop's robust cash position prevents bankruptcy, but core operations lack a sustainable future, justifying a continued 'sell' rating.
GameStop (GME) Tops Q2 Earnings Estimates
GameStop (GME) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to loss of $0.03 per share a year ago.
GameStop: Likely Turning Into An Investment Company, Initiate With 'Strong Sell'
GameStop Corp. faces strong competition from game publishers and big retailers, making a turnaround of its core business unlikely. I initiate a “Strong Sell” rating with a $14 target price. CEO Ryan Cohen has reduced costs and improved profitability but faces challenges in growing GameStop's revenue amidst declining physical retail relevance and rising digital distribution. GameStop's liquidity is stable with $4.204 billion in cash, but ongoing store closures and competition will likely lead to continued revenue decline and operational challenges.
GameStop's Revenue Swoons—But the Retailer Posted a Surprise Profit
GameStop's (GME) second quarter sales declined year-over-year, missing Wall Street's expectations, but the video game retailer managed to swing to a surprise profit.
GameStop reports better-than-expected Q2 earnings, despite falling sales
GameStop Corp. swung to a profit in its second-quarter results after market close Tuesday, despite a decline in sales at the videogame retailer. The company's stock was down 1.4% in after-hours trading.
GameStop reports first Q2 profit in seven years
GameStop Corp (NYSE:GME) announced its first profitable second quarter in seven years, posting a net income of $14.8 million, a significant turnaround from a $2.8 million loss in the same period last year. The company reported earnings per share (EPS) of $0.01, beating analysts' expectations by $0.10.
GameStop Q2 Earnings Highlights: Revenue Miss, EPS Beat, Cash Update And More
Video game retailer GameStop Corporation GME reported second-quarter financial results Tuesday after market close.
Videogame retailer GameStop misses quarterly revenue estimates
Videogame retailer GameStop missed Wall Street expectations for quarterly revenue on Tuesday, as consumers moved away from traditional brick-and-mortar stores to online purchasing.
