GameStop Corp. Q1 Loss Decreases, but misses estimates

(RTTNews) - GameStop Corp. (GME) released Loss for first quarter that decreased from last year but missed the Street estimates.

The company's bottom line came in at -$50.5 million, or -$0.17 per share. This compares with -$157.9 million, or -$0.52 per share, in last year's first quarter.

Excluding items, GameStop Corp. reported adjusted earnings of -$42.3 million or -$0.14 per share for the period.

Analysts on average had expected the company to earn -$0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.1% to $1.24 billion from $1.38 billion last year.

GameStop Corp. earnings at a glance (GAAP) :

-Earnings (Q1): -$50.5 Mln. vs. -$157.9 Mln. last year. -EPS (Q1): -$0.17 vs. -$0.52 last year. -Analyst Estimates: -$0.12 -Revenue (Q1): $1.24 Bln vs. $1.38 Bln last year.