GameStop (GME) Q4 earnings for 2021

A visitor to the mall will visit a GameStop store on December 8, 2021 in San Rafael, California.

Justin Sullivan | Getty Images

Shares of GameStop were down more than 8% on Thursday in extended trading after video game retailers reported an unexpected loss during the holiday quarter.

The video game retailer did not provide guidelines for next year, but said it plans to launch non-fungal tokens or NFTs by the end of April.

In the fourth fiscal quarter ended Jan. 29, the company had a net loss of $ 147.5 million, or $ 1.94 per share, compared to a year earlier of $ 80.5 million or $ 1.19 per share. That led to a loss of 84 cents on Wall Street, according to Refinitiv’s consensus estimates. The adjusted loss per share was $ 1.86.

Revenue totaled $ 2.25 billion, and analysts exceeded expectations of $ 2.22 billion.

The company will announce the profit at 5pm ET. It has not provided any financial forecasts since the pandemic began in March 2020. Moreover, analysts have not questioned the company’s earnings calls over the past year.

GameStop meme has been the target of stock frenzy and has achieved a new leader who wants to become a brick-and-mortar e-commerce player. Chewy founder Ryan Cohen was chosen to chair the company’s change as chairman of the company’s board. Former Amazon CEO Matthew Furlong and Mike Recupero were hired as CEO and COO, respectively.

Cohen has also been involved with another meme: Bed Bed & Beyond. Earlier this month, he revealed that he had a nearly 10% stake in the company.

Its shares have changed dramatically in the last year. Shares hit a 52-week low on Monday at $ 77.58 – less than a quarter of their value last June.

Since it closed on Thursday, GameStop shares have fallen about 41% this year. Shares rose about 1% to close at $ 87.70 on Thursday. The market value of the company is nearly $ 7 billion.

This is a developing story. Please check back for updates.

GameStop (GME) Q4 earnings for 2021

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