GameStop Corp (NYSE:GME) shares are trading higher by 3.08% to $22.10 Friday morning. The stock is trading higher, reversing following Thursday’s weakness, after the company reported worse-than-expected first-quarter results and announced it has appointed Ryan Cohen as executive chairman, terminating its former CEO.
GameStop Q1 Results
GameStop disclosed its first-quarter net sales of $1.237 billion, reflecting a decline from the previous year’s $1.378 billion. The reported net sales fell short of the estimated $1.36 billion.
For the first quarter, the company incurred a net loss of $50.5 million. Earnings per share stood at negative 14 cents, which failed to meet the Street consensus estimate of a loss of 12 cents per share…Read More
According to data from Benzinga Pro, GME has a 52-week high of $47.99 and a 52-week low of $15.41.
