A mall visitor walks be a GameStop store on December 08, 2021 in San Rafael, California.Justin Sullivan | Getty ImagesGameStop shares on Thursday fell
A mall visitor walks be a GameStop store on December 08, 2021 in San Rafael, California.
Justin Sullivan | Getty Images
GameStop shares on Thursday fell more than 8% in extended trading, after the video game retailer reported an unexpected loss during the holiday quarter.
The video game retailer will hold an earnings call at 5 p.m. ET. It has not provided guidance since the pandemic began in March 2020. It has also not taken questions from analysts on the company’s earnings calls over the past year.
Here’s how the company did for the fiscal fourth quarter ended Jan. 29 compared with what analysts were expecting, according to Refinitiv consensus estimates:
The video game retailer reported a net loss of $147.5 million, or $1.94 per share, compared with a gain of $80.5 million, or $1.19 per share, a year earlier. That missed Wall Street’s expectations of 84 cents, according to Refinitiv. Adjusted loss per share was $1.86.
Total revenue grew to $2.25 billion, topping analysts’ expectations of $2.22 billion.
GameStop has been a target in the meme stock frenzy and has gotten a fresh slate of leaders who want to turn the brick-and-mortar chain into an e-commerce player.
Its shares have swung wildly over the past year. Shares hit a 52-week low on Monday of $77.58 — less than one-fourth of the value that it had last June.
As of Thursday’s close, GameStop shares are down about 41% so far this year. Shares rose about 1% on Thursday to close at $87.70. The company’s market value is nearly $7 billion.
This is a developing story. Please check back for updates.
www.cnbc.com