GameStop Corp. (NYSE:GME) shares are trading lower by 7.4% at $81.19 after the company reported fourth-quarter adjusted EPS results were lower year-over-year.
GameStop reported quarterly losses of $1.86 per share. GameStop also reported quarterly sales of $2.25 billion which beat the analyst consensus estimate of $2.22 billion by 1.5%. This is a 6% increase over sales of $2.12 billion in the same period last year.
GameStop saw a fourth-quarter adjusted EBITDA loss of $126.9 million, versus a gain of $50.3 million in the same quarter last year.
Among the highlights for GameStop for the fourth-quarter and FY 2021:
- Generated net sales of $2.254 billion for the quarter, compared to $2.122 billion in the fourth quarter of 2020 and $2.194 billion in the fourth quarter of 2019
- Established new and expanded brand relationships, including with PC gaming companies such as Alienware, Corsair and Lenovo, that contributed to sales growth in the quarter
- Grew PowerUp Rewards Pro members by 32% on a year-over-year basis, taking total membership to approximately 5.8 million
- Entered into a partnership with Immutable X that is intended to support the development of GameStop’s NFT marketplace and provide the Company with up to $150 million in IMX tokens upon achievement of certain milestones
GameStop is a U.S. multichannel video game, consumer electronics, and services retailer.
GameStop has a 52-week high of $344.66 and a 52-week low of $77.58.
