Categories AlphaGraphs, Earnings, LATEST, Leisure & Entertainment
GameStop (GME) Earnings: Q1 loss narrows on 25% sales growth
Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first quarter of 2021, aided by a 25% increase in net sales.
Net loss, adjusted for special items, came in at $0.45 per share in the first quarter of 2021, which marked an improvement from the year-ago period when the company incurred a loss of $2.44 per share. The latest number also beat the estimates.
On a reported basis, it was a loss of $66.8 million or $1.01 per share, compared to a loss of $165.7 million or $2.57per share in the first quarter of 2020. The improvement reflects a 25% increase in sales to $1.28 billion. Analysts had forecast a slower top-line growth.
Read management/analysts’ comments on GameStop’s Q1 earnings
Shares of the company closed Wednesday’s trading higher but declined in the after-market hours. The value more than doubled in the last 30 days alone.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Earnings calendar for the week of June 14
Latest economic data evoked mixed sentiment this week -- the rebound in economic activity has raised inflation concerns while jobless claims declined for the sixth week in a row. The
Should you invest in Steel Dynamics (STLD) stock after 78% rally?
The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive
Campbell Soup (CPB) Q3 Earnings: Key financials and quarterly highlights
Campbell Soup Company (NYSE: CPB) reported third-quarter 2021 earnings results today. Net sales decreased 11% year-over-year to $1.98 billion, as a result of lapping the demand surge at the onset
