GameStop Earnings Preview: Analysts Expect a Steep Loss

Q1 Results to Be Released June 1st

GRAPEVINE, Texas, May 30, 2023

GameStop Corp. (GME) is scheduled to release its first-quarter earnings results on Wednesday, June 1st, after the market close.

Analysts are expecting the video game retailer to report a steep loss for the quarter, as it continues to struggle with declining sales and increased competition from online retailers.

According to consensus estimates, GameStop is expected to report a loss of $2.25 per share on revenue of $1.1 billion.

The company has been facing a number of challenges in recent years, including the rise of digital gaming and the decline of physical media sales.

GameStop has also been struggling to compete with online retailers like Amazon.com, which offer a wider selection of products and often lower prices.

As a result of these challenges, GameStop has been closing stores and laying off employees.

The company's stock price has also been declining in recent years, and it is currently trading at around $10 per share.

Despite the challenges, GameStop is still a major player in the video game industry, and its earnings results will be closely watched by investors.

The company's ability to navigate the challenges it faces will be key to its future success.