Categories AlphaGraphs, Earnings, Leisure & Entertainment
Infographic: Highlights of GameStop’s (GME) Q3 2020 earnings report
GameStop (NYSE: GME) Tuesday reported a wider loss for the third quarter of 2020, hurt by a sharp fall in sales due to the COVIID-induced slowdown. Shares of the video game company dropped in the after-hours session, immediately after the announcement.
Net loss, on an adjusted basis, widened to $0.53 per share from $0.49 per share last year. Market watchers had forecast a bigger loss for the October-quarter.
On an unadjusted basis, it was a net loss of $18.8 million or $0.29 per share, compared to a loss of $83.4 million or $1.02per share in the third quarter of 2019. The dismal performance reflects a 30% decrease in net sales to about $1 billion. The top-line also missed the market’s prediction.
Read management/analysts’ comments on GameStop’s Q3 earnings
After plunging to a multi-year low early this year, GameStop’s stock made steady gains and crossed the $15-mark last month. The stock closed Tuesday’s regular session higher but dropped during the extended session soon after the earnings announcement.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Amazon (AMZN) ups the ante in the AI race. Is the stock a buy?
For Amazon.com, Inc. (NASDAQ: AMZN), expanding the cloud infrastructure business has been a key priority lately, while maintaining its dominance in the e-commerce market. Currently, the company is busy ramping
LEN, KBH: How did the third quarter turn out for these homebuilders?
Homebuilders Lennar Corporation (NYSE: LEN) and KB Home (NYSE: KBH) reported their third quarter 2023 earnings results recently. Both companies saw their revenues and profits fall during the period amid
KMX Earnings Preview: Will CarMax return to the fast lane this year?
CarMax, Inc. (NYSE: KMX) is preparing to publish second-quarter results on Thursday. Over the years, it has evolved into a diversified company, with the scale of operations and omnichannel strategy
