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GameStop Continues To Suffer After Mixed Q1 Report, Eliminating Dividend

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GameStop Continues To Suffer After Mixed Q1 Report, Eliminating Dividend

GameStop Corp. (NYSE: GME) shares are getting crushed after reporting a mixed first-quarter report on Tuesday.

Adjusted earnings came in at 7 cents per share, beating estimates by 10 cents. Sales came in at $1.55 billion, missing estimates by $90 million. The company sees FY2019 comparable store sales down 5-10 percent.

The company's boarded eliminated its quarterly dividend.

GameStop shares fell 8.4 percent to $7.16 at time of publication in after-hours trading. Shares are down 38 percent in 2019.

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