What's Going On With GameStop Stock?
Portfolio Pulse from Adam Eckert
GameStop Corp (NYSE:GME) reported Q3 revenue of $1.078 billion, below analyst estimates of $1.18 billion and down from $1.186 billion year-over-year. The company posted a loss of 1 cent per share, an improvement from a loss of 31 cents per share in the same quarter last year. GameStop ended the quarter with $1.21 billion in cash and equivalents, with limited long-term debt. Under new CEO Ryan Cohen, the company did not hold a Q3 earnings call. GME shares dropped 8.02% to $13.65 following the earnings report.
December 07, 2023 | 1:49 pm
News sentiment analysis
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NEGATIVE IMPACT
GameStop's Q3 earnings missed analyst expectations, with lower year-over-year revenue and a continued loss, albeit reduced. Shares fell 8.02% post-earnings.
The negative earnings report, with revenue below analyst estimates and a year-over-year decline, is likely to impact investor sentiment negatively in the short term, as evidenced by the immediate drop in share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100