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05/26/16 04:30:05 PM
MARKET SNAPSHOT

S&P Market Commentary

... GRAPEVINE, Texas (AP) _ GameStop Corp. (GME) on Thursday reported fiscal first-quarter net income of $65.8 million. On a per-share basis, the Grapevine, Texas-based company said it had profit of 63 cents. Earnings, adjusted for non-recurring costs, came to 66 cents per share. The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share. The video game retailer posted revenue of $1.97 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.95 billion. GameStop expects full-year earnings to be $3.90 to $4.05 per share. GameStop shares have climbed nearly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. In the final minutes of trading on Thursday, shares hit $29.99, a decrease of 25 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GME at http://www.zacks.com/ap/GME Keywords: GameStop, Earnings Report



 

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