Videogame Stock Roundup: GameStop's Earnings, Sony's Tepid Forecast, Microsoft's VR Xbox & More
Zacks Investment Research | May 26, 2016 10:21PM ET
The videogame space was buzzing with activity this past week wherein we had quarterly results from GameStop Corp (NYSE:GME) and a forecast for Sony Corp (T:6758).’s (NYSE:SNE) fiscal 2016. Moreover, there were reports that Microsoft (NASDAQ:MSFT) is gearing up to release a VR capable Xbox sometime in 2017. Activision Blizzard (NASDAQ:ATVI) launched its new title, Overwatch after a long time.
1. Earnings: GameStop posted first quarter of fiscal 2016 results wherein both adjusted earnings and revenues beat the Zacks Consensus Estimate. However, adjusted earnings per share decreased 2.9%, whereas net sales declined 4.3% year over year during the quarter under review. The decrease in video games sales resulted in the year-over-year deterioration. Also, a tepid outlook for the current quarter caused shares to sink over 7% in the aftermarket session yesterday.
2. Sony recently issued a Original post
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