GameStop Corp. (NYSE: GME) missed revenue and earnings expectations for the second quarter of 2019, sending the stock crashing 16% in aftermarket hours on Tuesday.
Total global sales fell 14.3% year-over-year to $1.29 billion, missing estimates of $1.34 billion. On a constant currency basis, sales declined 13.1%. Consolidated comparable store sales were down 11.6%.

On a GAAP basis, net loss widened to $415.3 million, or $4.15 per share, from $24.9 million, or $0.24 per share, in the prior-year quarter, due to a goodwill impairment charge. Adjusted net loss from continuing operations was $32 million or $0.32 per share. Analysts had forecast a loss of $0.20 per share.
New hardware sales fell 41.1%, reflective of recent announcements for next generation console launches in 2020. New software sales dropped 5.3%, as growth in Nintendo Switch software titles was more than offset by weaker title launches across other consoles.
Accessories sales decreased 9.5%. Pre-owned sales declined 17.5% with declines in hardware and software. Digital receipts were down 11.2% to $227.2 million due to weaker title launches. Collectibles sales rose 21.2%, helped by strong double-digit growth in domestic and international stores.
For fiscal year 2019, GameStop expects comparable store sales to decline in the low teens. Adjusted EPS is expected to be $1.15-1.30.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Earnings Preview: Fastenal Company likely to report higher Q2 sales and profit
Fastenal Company (NASDAQ: FAST), a leading provider of industrial and construction supplies, is set to publish its second-quarter results next week. The company is among the hardest hit by the
What to look for when Netflix (NFLX) reports its Q2 2025 earnings results
Shares of Netflix, Inc. (NASDAQ: NFLX) stayed red on Monday. The stock has gained 50% over the past three months. The streaming giant is scheduled to report its earnings results
Coinbase shines on stablecoin boom, S&P 500 debut. Will the rally continue?
Coinbase Global, Inc. (NASDAQ: COIN) has emerged as the largest and most user-friendly cryptocurrency exchange in the US, since going public a few years ago. It has played a pivotal
Comments
Comments are closed.