** charts after earnings **
Gamestop misses by $0.05, misses on revs and comps; guides Q4 EPS below consensus (reaffirms FY16 EPS below, lowers high end of comps guidance) :
- Reports Q3 (Oct) earnings of $0.54 per share, $0.05 worse than the Capital IQ Consensus of $0.59; revenues fell 3.6% year/year to $2.02 bln vs the $2.14 bln Capital IQ Consensus. Foreign currency exchange rate changes negatively impacted sales by ~$100 million and earnings per share by $0.02.
- Comparable store sales declined 1.1% vs. +1-4% guidance (-1.7% in the U.S. and +0.3% internationally).
- In the new video game segments, new hardware sales declined 20.4% (a 15.4% decrease in constant currency), while new software sales decreased 9.3% (a 4.2% decrease in constant currency) due to the tough overlap of Destiny and Super Smash Bros. in Q3 2014.
- Pre-owned sales increased 0.6% (a 4.9% increase in constant currency) driven by growth in PlayStation 4 and Xbox One pre-owned sales.
- Co issues downside guidance for Q4, sees EPS of $2.12-2.32 vs. $2.37 Capital IQ Consensus Estimate.
- Co is reiterating its full year adjusted diluted earnings per share guidance range of $3.66 to $3.86 vs. $3.93 consensus. Incorporating third quarter results, full year comparable store sales are now expected to range from +2.0% to +6.0% from +2-7%.
2 weeks later.....
No comments:
Post a Comment