GameStop Corp. (GME) Releases Earnings Results, Beats Expectations By $0.05 EPS

GameStop Corp. (GME) reported quarterly earnings results on Thursday, May-26-2016. The company said it had a profit of $0.66 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.61. The company posted revenue of $1971.50 million in the period, compared to analysts expectations of $1970.59 million. The company’s revenue was down -4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on GameStop Corp.. Company shares were Reiterated by Telsey Advisory Group on Apr 15, 2016 to “Market Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .Shares were Reiterated by Ascendiant Capital Markets on Mar 28, 2016 to “Buy” and Lowered the Price Target to $ 31 from a previous price target of $32 .Shares were Reiterated by Wedbush on Mar 28, 2016 to “Outperform” and Lowered the Price Target to $ 36 from a previous price target of $38 .

GameStop Corp. opened for trading at $28.77 and hit $29.84 on the upside on Wednesday, eventually ending the session at $29.73, with a gain of 3.59% or 1.03 points. The heightened volatility saw the trading volume jump to 46,12,114 shares. Company has a market cap of $3,088 M.

In a different news, on Mar 30, 2016, Stephanie M Shern (director) sold 1,769 shares at $31.19 per share price. According to the SEC, on Dec 2, 2015, Steven R Koonin (director) sold 1,250 shares at $35.39 per share price. On Oct 22, 2015, Julian Paul Raines (Chief Executive Officer) sold 30,000 shares at $45.00 per share price, according to the Form-4 filing with the securities and exchange commission.

GameStop Corp. is a multichannel video game consumer electronics and wireless services retailer. The Company operates its business in four Video Game Brands segments: United States Canada Australia and Europe and a Technology Brands segment. The Video Game Brands segments include 6206 stores 4138 of which are included in the United States segment. There are 331 421 and 1316 stores in the Canadian Australian and European segments respectively. Each of the Video Game Brands segments consists primarily of retail operations with all stores engaged in the sale of video game systems software and accessories. Its Video Game Brands stores sell various types of digital products including downloadable content network points cards and prepaid digital among others. They also carry mobile and consumer electronics products which consist primarily of mobile devices tablets and related accessories. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses.

GameStop Corp.

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