Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Everything Goes Wrong for GameStop

TheMotleyFool

0 0

Everything Goes Wrong for GameStopPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png

An already bad year just got much worse for video game retailer GameStop (NYSE: GME). The company's second-quarter report was a train wreck, with adjusted losses more that tripling as sales tumbled by a double-digit percentage. Another gigantic write-off erased the remaining goodwill on the balance sheet, leading to a GAAP net loss in excess of $400 million.

GameStop fell short of analyst estimates across the board:

Metric

Source Fool.com

Like: 0

GME

Share