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GameStop (GME) Second Quarter 2021 Revenue

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.

GameStop has been trying Shift your business to e-commerce.. The company announced that it has signed a lease for a 530,000-square-foot fulfillment center in Reno, Nevada, to improve delivery. This site will help you expand your fulfillment network on both coasts of the United States.

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GameStop (GME) Second Quarter 2021 Revenue

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