In the fight between GameStop (GME) bulls and bears, the latter have won the most recent battle.
On September 10, after the closing bell, the Grapevine, Texas-based retailer delivered results that accurately reflected my earnings preview expectations: "weak, given lack of traction on the hardware side of the business". Revenues of $1.29 billion fell 14% YOY and landed a sizable $54 million short of consensus. Meanwhile, adjusted loss per share of -$0.32 was the worst bottom-line result delivered in the past five years at least.Credit: Evil Avatar
Unfortunately, for shareholders, hardware revenues that