GameStop Corporation Reveals Q1 Preliminary Results: Expects Q1 Net Sales Of $0.872B-$0.892B Vs. $1.05B Estimate (Prior Year: $1.237B); Sees Net Loss Of $27M-$37M (Prior Year: $50.5M)
Portfolio Pulse from Benzinga Newsdesk
GameStop Corporation has revealed its preliminary Q1 results, expecting net sales between $0.872 billion and $0.892 billion, significantly lower than the $1.05 billion estimate and $1.237 billion from the prior year. The company also anticipates a net loss between $27 million and $37 million, an improvement from the $50.5 million loss in the prior year.
May 17, 2024 | 11:27 am
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GameStop's preliminary Q1 results show a significant decline in net sales compared to estimates and the prior year, but an improvement in net loss. This mixed result may lead to short-term volatility in the stock price.
The significant decline in net sales compared to both estimates and the prior year is likely to negatively impact investor sentiment. However, the improvement in net loss may provide some relief, leading to potential short-term volatility in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100