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GameStop (GME - Free Report) just released its third-quarter fiscal 2016 earnings results, posting earnings of $0.49 per share and revenue of $1.959 billion.
GME was up 3.69% to $25.00 in after-hours trading shortly after its earnings report was released.
Currently, GME has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
GamesStop:
Beat earnings estimates. The company posted earnings of 49 cents per share, beating our Zacks Consensus Estimate of $0.47.
Missed revenue estimates. The company saw revenue figures of $1.959 billion, just missing our estimate of $1.973 billion.
Total global sales decreased $2.8%, while consolidated comparable-store sales declined 6.5%. GameStop cited weaker-than-expected demand during the last few weeks of October.
For the fourth quarter of fiscal 2016, the company expects comparable-store sales to range from -12.0% to -7.0%. Diluted earnings per share are expected to range from $2.23 to $2.38. The current Zacks Consensus Estimate for GameStop’s holiday-quarter earnings is $2.35 per share.
“Our third quarter results were in line with the revised guidance we issued on November 2. While the video game business has underperformed recently, we are focused on maintaining our leading market position, especially during the holiday season, as well as driving diversification through the growth of Technology Brands, Digital and Collectibles,” said CEO Paul Raines.
Here’s a graph that looks at Gamestop’s recent earnings performance:
GameStop Corp. is the world's largest video game and entertainment software retailer. The company operates 4,816 retail stores across the United States and in fifteen countries worldwide. The company also operates two e-commerce sites, GameStop.com and EBgames.com, and publishes Game Informer® magazine, a leading multi-platform video game publication.
Check back later for our full analysis onGameStop’s quarter earnings report!
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GameStop (GME) Posts Q3 Earnings Beat Despite Sluggish Demand
GameStop (GME - Free Report) just released its third-quarter fiscal 2016 earnings results, posting earnings of $0.49 per share and revenue of $1.959 billion.
GME was up 3.69% to $25.00 in after-hours trading shortly after its earnings report was released.
Currently, GME has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
GamesStop:
Beat earnings estimates. The company posted earnings of 49 cents per share, beating our Zacks Consensus Estimate of $0.47.
Missed revenue estimates. The company saw revenue figures of $1.959 billion, just missing our estimate of $1.973 billion.
Total global sales decreased $2.8%, while consolidated comparable-store sales declined 6.5%. GameStop cited weaker-than-expected demand during the last few weeks of October.
For the fourth quarter of fiscal 2016, the company expects comparable-store sales to range from -12.0% to -7.0%. Diluted earnings per share are expected to range from $2.23 to $2.38. The current Zacks Consensus Estimate for GameStop’s holiday-quarter earnings is $2.35 per share.
“Our third quarter results were in line with the revised guidance we issued on November 2. While the video game business has underperformed recently, we are focused on maintaining our leading market position, especially during the holiday season, as well as driving diversification through the growth of Technology Brands, Digital and Collectibles,” said CEO Paul Raines.
Here’s a graph that looks at Gamestop’s recent earnings performance:
GAMESTOP CORP Price, Consensus and EPS Surprise
GAMESTOP CORP Price, Consensus and EPS Surprise | GAMESTOP CORP Quote
GameStop Corp. is the world's largest video game and entertainment software retailer. The company operates 4,816 retail stores across the United States and in fifteen countries worldwide. The company also operates two e-commerce sites, GameStop.com and EBgames.com, and publishes Game Informer® magazine, a leading multi-platform video game publication.
Check back later for our full analysis onGameStop’s quarter earnings report!
Stocks that Aren't in the News. Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>