GameStop (GME) Tops Q3 EPS by 5c; Reiterates Outlook

GameStop (NYSE: GME) reported Q3 EPS of $0.48, $0.05 better than the analyst estimate of $0.43. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $1.96 billion.

“Our third quarter sales results were driven by strong software demand and continued momentum for Nintendo Switch and collectibles,” said Dan DeMatteo, interim chief executive officer. “As we enter the fourth quarter, we are encouraged by the initial customer response to Microsoft’s Xbox One X, and believe that the holiday season results will be driven by new console hardware and collectibles. Our Technology Brands AT&T Wireless business underperformed our expectations for the third quarter and we anticipate that the fourth quarter results will be highly dependent on the availability of Apple’s next-generation iPhone X.”

GUIDANCE:

GameStop sees FY2017 EPS of $3.10-$3.40, versus the consensus of $3.31.

For earnings history and earnings-related data on GameStop (GME) click here.

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