Shares of GameStop Corp. rose after the videogame retailer reported second-quarter results that beat expectations.
Shares of GameStop Corp. rose in extended trading Wednesday after the videogame retailer reported second-quarter results that beat expectations.
The company reported a net loss of $2.8 million, or 1 cent a share, compared with $108.7 million, or 36 cents a share, in the same quarter last year. Revenue crept higher to $1.16 billion, compared with $1.14 billion in the prior-year quarter. GameStop’s GME, -2.50% adjusted net loss per share was 3 cents. The company ended the quarter with cash and equivalents of $1.195 billion.Shares jumped 14% after hours. The company, as with its previous round of earnings, said it would not be holding a conference call.
The chain reported the results in the wake of the firing of its chief executive, the resignation of its chief financial officer and the election of activist investor Ryan Cohen to executive chair, after Cohen over the past few years amassed greater influence over the company. GameStop ended the prior quarter with around $1.3 billion in cash and equivalents, and was positioned to benefit from the recent release of popular games like “The Legend of Zelda: Tears of the Kingdom” and “Diablo IV.” But Wall Street has had broader concerns about a shift to mobile and digital gaming, and the threat posed to physical videogame retailers.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
GameStop Corp. Cl A stock rises Tuesday, outperforms marketShares of GameStop Corp. Cl A rallied 4.40% to $19.23 Tuesday, on what proved to be an all-around rough trading session for the stock market, with the S&P...
Baca lebih lajut »
GameStop Corp. Cl A stock falls Wednesday, underperforms marketShares of GameStop Corp. Cl A shed 2.50% to $18.75 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500...
Baca lebih lajut »
Stock market today: Asian shares fall back amid selling of China property sharesShares have slipped in Asia after U.S. markets were closed for the Labor Day holiday. U.S. futures also were lower and oil prices were mixed.
Baca lebih lajut »
Stock market today: Asian shares fall back amid selling of China property sharesShares have slipped in Asia after U.S. markets were closed for the Labor Day holiday.
Baca lebih lajut »
Stock market today: Asian shares fall back amid selling of China property sharesShares have slipped in Asia after U.S. markets were closed for the Labor Day holiday.
Baca lebih lajut »
Stock market today: European shares lower after mixed Asian trading as China property shares soarShares opened mostly lower in Europe and Asian shares were mixed as Chinese stocks were lifted by hopes for further support for the country's faltering property market.
Baca lebih lajut »