Videogame retailer reports worse-than-expected Q3 revenue
- GameStop stock falls after missing sales expectations
- Adjusted loss of 1 cent a share, worse than expected
- Sales of $1.078 billion below expectations
- Stock drops 3.8% in after-hours trading
GameStop shares fell in after-hours trading Wednesday after the videogame retailer reported worse-than-expected fiscal third-quarter revenue. The company reported an adjusted loss of 1 cent a share, which was worse than the forecasted loss of 8 cents a share. Additionally, GameStop’s sales of $1.078 billion fell short of the expected $1.18 billion. As a result, the stock dropped 3.8% to $14.27 in after-hours trading.
Public Companies: GameStop (GME)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific information about GameStop’s fiscal third-quarter revenue, including the adjusted loss per share and the sales figures. It also mentions the stock price drop after the release. The information seems to be based on factual data and does not contain any obvious bias or opinion.
Noise Level: 3
Justification: The article provides a brief summary of GameStop’s financial performance in the third quarter, but lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on the stock price movement and does not explore the consequences of the company’s performance on stakeholders or the broader gaming industry.
Financial Relevance: Yes
Financial Markets Impacted: GameStop
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of GameStop, a videogame retailer. It reports on the company’s worse-than-expected fiscal third-quarter revenue, which caused a decline in GameStop’s stock price in after-hours trading.
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