CORRECTION: GameStop Q1 Adj. EPS $(0.12) Misses $(0.09) Estimate, Sales $881.80M Miss $995.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
GameStop (NYSE:GME) reported Q1 adjusted EPS of $(0.12), missing the $(0.09) estimate, and sales of $881.80M, missing the $995.30M estimate. This represents a 14.29% improvement in EPS from last year but a 28.71% decrease in sales.
June 07, 2024 | 10:48 am
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GameStop's Q1 earnings report showed a miss on both EPS and sales estimates. While EPS improved by 14.29% YoY, sales dropped significantly by 28.71%. This mixed performance is likely to create short-term downward pressure on the stock price.
The miss on both EPS and sales estimates is a negative indicator for investors. Despite the YoY improvement in EPS, the significant drop in sales and the failure to meet analyst expectations are likely to result in a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100