GameStop Corp. (GME), a specialty retailer specifically dealing with games and entertainment products, has slid 6.50% in the premarket trading session. Consequently, the stock was trading at $82 when last checked. During Thursday’s regular trading session, the stock nominally increased by 0.97% to close the day at $87.70. The decline in premarket could be attributed to the announcement of results as Gamestop Corporation posted a significant quarterly loss, prompting the investors to short the stock.
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GME Q4 2021 Results
On Thursday, after the closure of the market, GME released Q4 2021 results. The net sales during the three months were estimated to be $2.25 billion when compared to $2.12 billion generated during the same quarter of the preceding year. The gross profit for Q4 2021 was $378 million versus $448 million during Q4 2020. The net loss suffered during the quarter was $147.5 million (or $1.94 per basic and diluted share) against the net income of $80.5 million (or net income of $1.23 and $1.19 per basic and diluted share) during the same quarter of the preceding year.
FY 2021 Results
Alongside, GME also announced the results for the full year 2021. The company was able to generate net sales of $6 billion compared to the $5 billion it generated during fiscal 2020. The gross profit during fiscal 2021 was $1.3 billion versus $1.2 billion during 2020. The net loss company suffered during 2021 was $381 million (or $5.25 per share) against $215 million (or $3.31 per share) during the full year 2020.
FY 2021 Highlights
GME shed a light on the highlights of 2021. For including a broader set of products, the company expanded its product catalogue. It established new offices in several of the localities including Massachusetts, Washington D.C., Seattle, etc. It was also able to raise approximately $1.67 billion in terms of capital during 2021.
What’s Next for GME?
Looking ahead, analysts are of the view that GME stock is in a very wide falling trend currently. Also, it holds several negative technical indicators as well. As a result, the stock is expected to perform weakly in the next couple of weeks.
