GameStop (GME) Stock Down On Q4 Earnings Miss & Soft View
Zacks Investment Research | Apr 02, 2019 09:06PM ET
GameStop Corp. (NYSE:GME) posted dismal fourth-quarter fiscal 2018 results, with the top and the bottom line missing the Zacks Consensus Estimate and declining year over year. Performance was hit by sluggishness at pre-owned video game as well as lower sales of new video game hardware and software. Also, the additional 53rd week in 2017 led to an unfavorable year-on-year comparison.
To top these, the company provided an unimpressive sales and comps view for fiscal 2019. Bottom-line view for the first quarter of fiscal 2019 is also unimpressive. Well, these downsides were more than enough to mar investors’ sentiments. Markedly, shares of the company lost nearly 8.7% in the after-market trading session on Apr 2. In fact, this Zacks Rank #5 (Strong Sell) stock has tumbled almost 19.4% in the past three months compared with the Original post
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