What are the revenue expectations for GameStop's Q2 earnings?
Analysts' revenue forecasts range from approximately $823 million to $900 million.
Finance / Stock Market
GameStop (GME) stock is seeing renewed investor interest as the company prepares to release its Q2 earnings report. Here's a breakdown of recent market activity and analyst expectations.
GameStop (GME) is scheduled to release its Q2 earnings report after market close on Tuesday, September 9. Investors and analysts are closely monitoring the report to gauge the company's progress in its transition from a traditional brick-and-mortar retailer to a more digitally-focused business.
Analysts expect GameStop's revenue to grow 3.1% year-on-year to $823.2 million. Adjusted earnings are expected to come in at $0.16 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Compared to its peers in the specialty retail segment, Best Buy delivered year-on-year revenue growth of 1.6%, and Ulta reported revenues up 9.3%. However, both Best Buy and Ulta traded down following their results, highlighting the market's sensitivity to earnings reports.
GameStop's shares have shown an average analyst price target of $13.50, compared to the current share price of $22.69. This indicates potential for price correction or re-evaluation based on the upcoming earnings data.
Analysts' revenue forecasts range from approximately $823 million to $900 million.
Adjusted earnings are expected to come in at $0.16 per share.
GameStop’s shares are extremely volatile and have had 34 moves greater than 5% over the last year.
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