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Why Shares of GameStop Jumped Today

TheMotleyFool 
0 0 22.11.17
Why Shares of GameStop Jumped TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png
 
Why Shares of GameStop Jumped Today

Shares of video game retailer GameStop (NYSE: GME) jumped on Wednesday following a third-quarter report that beat analyst expectations. A surprise jump in comparable sales pushed revenue higher, while some discrete tax items led to a big earnings beat. The stock was up about 7% at noon, after being up as much as 11.7% earlier in the day.

GameStop reported third-quarter revenue of $1.99 billion, up 1.5% year over year and $30 million higher than the average analyst estimate. Strong demand for the Nintendo Switch drove an 8.8% increase in new hardware sales and a 5.4% climb in new software sales. Comparable-store sales rose 1.9%, and the company now expects to post positive comps for the year.

The Nintendo Switch is driving strong hardware and software sales for GameStop. Image source: Nintendo.

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Source: Fool.com

Gamestop Corp. Stock

€16.52
0.300%
The Gamestop Corp. stock is trending slightly upwards today, with an increase of €0.050 (0.300%) compared to yesterday's price.

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