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GameStop Shares Down Following EPS Miss -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — GameStop Corp (NYSE:)Shares fell hours after the company’s third quarter earnings. It missed EPS estimates but reported more revenue than it expected.

On revenue of $1.297 million, the video retailer reported a $1.39 loss per share. The analysts polled by Investing.comOn revenue of $1.19 trillion, a 52-cent per share loss was expected.

GameStop shares were down 3.3% in response to this report.

GME’s quarterly growth can be attributed to increased sales at the company through new and extended brand partnerships such as Samsung (KS), LG Razer, Vizio, Vizio, Razer and Razer.

GameStop stated that it had $1.141 trillion in inventory at the end of the quarter as compared with $861 millions at the end of the third quarter. The company stated that it was “front-loading inventory investments to meet customer demand increases and reduce supply chain problems.”

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