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GameStop plunges in afterhours trading as Q4 results fall short of estimates

Investing.com -- GameStop plunged in afterhours trading Tuesday after the video game retailer reported fourth-quarter earnings that missed Wall Street estimates amid softer sales over the holiday period.

GameStop Corp (NYSE:GME) fell 17% in after-market trading following the report.

For the quarter ended Feb. 3, the company reported earnings of $0.22 per share1 on revenue of $1.79 billion, missing estimates for $0.28 and $2.07B, respectively. 

Net sales fell by about 24% in Q4 from a year earlier, driven by a nearly 30% slump in its software business, which  gaming software, digital software and PC entertainment software and makes up about a quarter of overall revenue.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.