GameStop (NYSE:GME) reported third-quarter earnings after the market closed on Tuesday, delivering results that were disappointing across the board. The retailer’s revenue fell 24.7% on a constant-currency basis, comparable-store sales were down 23.2%, and top- and bottom-line results came in significantly below the market’s expectations.
The company posted an adjusted loss of $0.49 per share on sales of $1.44 billion, missing the average analyst target for a per-share loss of $0.11 on sales of $1.62 billion. GameStop also slashed its full-year earnings target, and the stock fell by double-digit percentages in after-hours trading.
Read on for a closer look at the company’s troubled quarter and some key quotes from its earnings release and conference call.
