For the most anticipated earnings event of the year to date, GameStop’s call with analysts on Tuesday night was something of a damp squib.
So many people had dialed in to listen that the call hit its capacity 45 minutes before it began; it had to be additionally livestreamed on YouTube and Twitch. But the call itself lasted just half an hour, and GameStop took no questions at all. As a result, the event featured zero mentions of Reddit, short squeezes, and WallStreetBets traders who drove GameStop’s stock price to an all-time high of $347 in late January.
GameStop’s earnings didn’t exactly match the anticipation either. Its net sales in the fourth quarter totaled $2.12 billion, short of analyst estimates of $2.24 billion. Analysts had also expected adjusted earnings per share of $1.35; GameStop announced $1.34 per share. After the call, shares fell 15% by the end of late trading.
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