Investors Bid Up GameStop After Its Earnings Per Share Beat Expectations
Though GameStop's (NYSE: GME) Q4 and full-year 2019 results missed analyst estimates, investors still bid up the company's shares in trading today over news that its earnings per share (EPS) beat predictions by a comfortable amount. Analyst consensus had pegged EPS at $0.79, but the software and electronics hardware retailer posted $1.27 instead, beating by $0.48. Its stock jolted more than 12% higher in after-hours trading on the news, though the rise moderated somewhat.
Still trading at under $5 (though it came close to breaking that threshold after hours), GameStop is still well below its 12-month high of more than $10 per share. Analysts had expected the company to deliver $2.24 billion in net revenue, while the actual revenue figure was $2.19 billion.
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Source Fool.com
