People walk by the GameStop store in Brooklyn, New York City on January 28, 2021.
Spencer Pratt | Getty Images News | Getty Images
Video game retailer GameStop Second-quarter losses reported Wednesday shrank as sales increased from a year ago.
Retailers also said the US Securities and Exchange Commission requested additional documentation. Survey of trading activities of GameStop and other companies, Retailer disclosed in May.
GameStop said the survey was not expected to have a negative impact on the company.
The company’s stock fell by more than 2% in overtime trading. GameStop shares have risen 957% since the beginning of the year, primarily due to the enthusiasm of so-called meme stocks. Although GameStop’s market capitalization has risen to $ 14.28 billion, the company still records quarterly losses.
Net losses for the quarter ending July 31 were $ 61.6 million (85 cents per share), compared to $ 111.3 million a year ago ($ 1.71 per share). On an adjusted basis, GameStop lost 76 cents per share.
Sales increased from $ 942 million in the previous year to $ 1.18 billion.
According to Refinitiv, analysts expected the company to lose 67 cents per share with $ 1.12 billion in revenue.
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GameStop (GME) Second Quarter 2021 Revenue
Source link GameStop (GME) Second Quarter 2021 Revenue