** charts before earnings **
** charts after earnings **
GameStop beats by $0.05, reports revs in-line; guides Q2 EPS in-line; reaffirms FY17 EPS & comp guidance; Q1 comps -6.2% versus guidance of negative 7-9% :
- Reports Q1 (Apr) earnings of $0.66 per share, excluding non-recurring items, $0.05 better thanthe Capital IQ Consensus of $0.61; revenues fell 4.3% year/year to $1.97 bln vs the $1.97 bln Capital IQ Consensus. Q1 comparable store sales declined 6.2% (-6.6% in the U.S. and -4.9% internationally). Guidance called for comps to fall between 7-9%
- Co issues in-line guidance for Q2, sees EPS of $0.28-0.35, excluding non-recurring items, vs. $0.33 Capital IQ Consensus Estimate. For Q2, GME expects comparable store sales to range from -7.0% to -4.0%. Q2 guidance excludes $0.05 related to interest expense on the $475 million of senior notes issued earlier this year.
- Co reaffirms guidance for FY17, sees EPS of $3.90-4.05 vs. $4.04 Capital IQ Consensus Estimate. Co reaffirms FY16 comparable store sales range of -3.0% to 0.0%.
- Video game sales were adversely impacted by a 28.8% decline in new hardware sales and the overlap of several strong new software titles launched in Q1 2015. Pre-owned sales declined 3.7% compared to the first quarter of 2015.
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