3 Positives and 3 Negatives From GameStop’s First-Quarter Earnings
Shares of GameStop (NYSE: GME) fell last night, after the video game retailer posted its first-quarter earnings report. GameStop's first quarter spanned February through April, so quarterly results were heavily affected by the coronavirus outbreak, especially in its core U.S. market.
The retailer posted some heavy losses, as store closures compounded the problem of the industry being at the very end of the PlayStation and Xbox console cycles. That led to some ugly looking quarterly numbers, which sent shares down in after-hours trading.
Still, there were some silver linings in management's commentary regarding current trends and expectations for the rest of the year, when new consoles will launch.
Source Fool.com
