In this article
GME+2.71 (+11.27%)
SAN RAFAEL, CALIFORNIA - DECEMBER 08: Customers enter a GameStop store on December 08, 2021 in San Rafael, California. Video game retailer GameStop will report third quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images News | Getty Images
GameStop said Wednesday that quarterly sales declined and losses widened, as it burned through cash and inventory swelled.
The video game retailer also disclosed a new partnership with crypto exchange FTX.
Shares of the company rose about 10% in after hours trading.
In the second fiscal quarter ended July 30, the company’s total sales dropped to $1.14 billion from $1.18 billion in the year-ago period. Its losses widened to $108.7 million, or 36 cents per share, compared with a loss of $61.6 million, or 21 cents, a year prior.
GameStop’s results cannot be compared with estimates because too few analysts cover the company. It did not provide a...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...