GME - GameStop Needs To Put Up A Better Fight | Benzinga
On December 6th, GameStop Corporation (NYSE: GME) missed revenue expectations but topped earnings estimates with its fiscal third quarter results as it continues to face intense competition from even the e-commerce titan, Amazon.com Inc (NASDAQ: AMZN), and other mass merchants to which it is losing market share. But once investors digested the results, GameStop shares shrugged off early declines.
Third Quarter Highlights
For the quarter ended on October 28th, GameStop reported revenue dropped 9% YoY of $1.078 billion, coming short of analysts’ estimate of $1.186 billion. GameStop reported a net loss of $3.1 million, or 1 cent a share, improving from last year’s comparable quarter when net loss amounted to $94.7 million, or 31 cents a share. On an adjusted-per-share basis, GameStop broke even, ...