GME – GameStop reports wider loss, announces partnership with exchange FTX via /r/wallstreetbets


GME – GameStop reports wider loss, announces partnership with exchange FTX

GameStop said Wednesday that quarterly sales declined and losses widened, as its inventory of video game equipment and more swelled.

The company also disclosed a new partnership with exchange FTX.

Shares of the company rose more than 10% in after hours trading.

Here’s how the company did for the second fiscal quarter ended July 30:

  • Loss: $108.7 million, not comparable to estimates
  • Revenue: $1.14 billion

GameStop’s results cannot be compared with estimates because too few analysts cover the company.

The company did not provide an outlook. It hasn’t provided guidance since the start of the pandemic.

https://www.cnbc.com/2022/09/07/gamestop-gme-q2-2022-earnings.html

Submitted September 07, 2022 at 10:23PM by rebelo55
via reddit