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Actionable news in GME: GAMESTOP Corp CLASS A,

GameStop Falls 7% On Weak Q2

  • Q2 2016 EPS $0.27, Sales $1.63 billion
  • Consolidated comps down 10.6 percent
  • Affirms FY 2016 Guidance
  • Shares down over 7 percent after hours

GameStop Corp. GME 1.42% Q2 EPS was in line with expectations, but revenues missed by $90 million. Comparable same-store sales in the US and internationally were down 12.5 and 5.9 percent, respectively. As for the company's grasp on the new digital media world, sales in Mobile and Consumer Electronics category rose 43 percent.

Outlook

For Q3, the company said investors should expect comparable same-store sales to be in the range of -2 percent to +1 percent. EPS should be $0.53 to $0.58 versus consensus estimates for $0.53.

FY 2016 comps are guided for a range between (4.5) percent to (1.5) percent. EPS is affirmed between $3.90 to $4.05 versus expectations for $3.99.

GameStop shares closed Thursday's regular session up $0.43 or 1.36 percent to $32.16. The stock was down more than 7 percent to $29.80 after hours.

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