GameStop Corp. (GME) shares were down more than 6% in after-hours trading Wednesday after the videogaming rental chain reported fiscal second-quarter results that missed Wall Street estimates. GameStop reported a loss of $111.3 million, or $1.17 a share, compared with a loss of $415.3 million, or $4.15 a share, in the year-ago quarter. The adjusted loss of $91.2 million, or $1.40 per share, was significantly higher than the $32 million shortfall, or 32 cents per share, a year ago. Revenue plunged 27% to $942 million from $1.29 billion a year ago. Analysts surveyed by FactSet had expected an adjusted loss of $1.13 a share on revenue of $1.019 billion. GameStop shares are up 21% this year. The broader S&P 500 index has improved 5% in 2020.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 09, 2020 16:21 ET (20:21 GMT)
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