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GameStop (GME) Tops Q1 Earnings Estimates, Comps Down 5.3%

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GameStop (GME - Free Report) just released its first-quarter financial results, posting adjusted earnings of $0.38 per share and revenues of $1.93 billion.

GameStop is currently a Zacks Rank #4 (Sell), which is subject to change based on today’s results. Shares of GameStop are down over 39% during the last year and have slipped nearly 16% in the last 12 weeks. The company’s stock also dipped 1.64% on Thursday to hit $13.20 per share prior to the release of its quarterly earnings results.

GameStop stock is currently down 4.55% to $12.60 per share in after-hours trading shortly after its earnings report was released.

GME:

Beat earnings estimates. The company posted adjusted earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.35 per share.   

Missed revenue estimates. The company saw revenue figures of $1.93 billion, missing our consensus estimate of $1.96 billion.

GameStop saw its quarterly revenues sink by 5.5% from $2.05 billion in the year-ago period. The video game retailer’s comparable store sales fell by 5.3%. Meanwhile, its adjusted quarterly earnings plummeted from $0.63 per share.

Here’s a graph that looks at GME’s Price, Consensus and EPS Surprise history:

GameStop Corp. Price, Consensus and EPS Surprise

GameStop Corp. Price, Consensus and EPS Surprise | GameStop Corp. Quote

Check back later for our full analysis on GME’s earnings report!

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