GameStop Earnings: What To Expect
GameStop Corp. (NYSE: GME) is scheduled to report its first quarter financial results after the market closes on Thursday and, according to Crowdsourced site Estimize, the crowd and the Street expect pretty much flat year-over-year earnings, while the company anticipates a slight decline.
For the current quarter, the company guided earnings of $0.56 per share on revenue of $1.986 billion. Meanwhile, both the crowd and the Street are slightly more bullish and project earnings of $0.58 per share on revenue of $2.028 billion and $2.046 billion, respectively.
These figures compare to earnings of $0.59 per share and revenue of $1.996 billion reported in the same quarter last year.
Two Wall Street Firms Weigh In
In a recent report, analysts at Oppenheimer reiterated an Outperform rating and $45 price target on GameStop. They commented, "Recent reports from leading publishers suggest sales of full game downloads, while growing, are still relatively small and downloadable content (DLC), a category GME sells very well, is driving digital revenues."
Related Link: Wedbush Maintains Outperform, $50 PT At GameStop
Wedbush also maintained an Outperform rating and a $50 price target. The analysts expect results in line with guidance for the quarter, driven by next-generation software strength –- same as Oppenheimer.
"GameStop's leading market share on next-gen HW and SW should allow a sales growth figure at the high-end of the range, assuming Technology Brands performed roughly in-line with our expectations," the analysts said.
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