GameStop Corp. (NYSE: GME) reported a wider net loss for the second quarter of 2022 when the gaming company’s sales decreased 4% and missed analysts’ expectations.
The company reported a net loss of $108.7 million or $0.36 per share for the latest quarter, on an unadjusted basis, compared to a loss of $61.6 million or $0.21 per share in the same period of last year. The adjusted loss was $0.35 per share, compared to a loss of $0.19 per share in the prior-year quarter. The latest number beat the estimates.
At $1.14 billion, second-quarter net sales were down 4% from the year-ago period. The top line also missed analysts’ estimates.
Check this space to read management/analysts’ comments on GameStop’s Q2 2022 earnings
During the quarter, the company followed up the earlier launch of its digital wallet by launching the non-fungible token marketplace to allow gamers, creators, collectors, and others to buy, sell and trade NFTs.