Meme-stock darling GameStop reports its third-quarter results after the market closes on Wednesday, with analysts looking for a narrowing loss from $GME. GameStop’s stock has fallen 29.3% this year, outpacing the S&P 500’s decline of 15.5%.
Meme-stock darling GameStop Corp. reports its third-quarter results after the market closes on Wednesday, with analysts looking for a narrowing loss from the videogame retailer.
Analysts surveyed by FactSet are looking for GameStop to report a net loss of $94 million, or 29 cents a share, compared with a net loss of $105 million, or $1.39 cents a share, in the prior year’s quarter. Analysts are looking for third-quarter revenue of $1.4 billion, compared with $1.3 billion in the same period last year.
In September, GameStop’s stock surged after the company reported a narrower-than-expected loss and announced a partnership with cryptocurrency exchange FTX. Last month, FTX, which was once the world’s third-largest crypto exchange, filed for bankruptcy following a dramatic collapse that sent shockwaves through the crypto industry.
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