** charts before earnings **
** charts after earnings **
GameStop reports EPS in-line, misses on revs; guides Q3 EPS in-line; reaffirms FY17 EPS & lowers comp guidance :
- Reports Q2 (Jul) earnings of $0.27 per share, excluding non-recurring items, in-linewith the Capital IQ Consensus of $0.27; revenues fell 7.4% year/year to $1.63 bln vs the $1.72 bln Capital IQ Consensus.
- Total global sales decreased 7.4% to $1.63 bln, while consolidated comparable store sales declined 10.6% vs. -4% to -7% guidance
- Sales in the Mobile and Consumer Electronics category increased 43.0% to $203.3 mln, as Technology Brands revenues increased 54.6% to $175.9 mln.
- Gross margin rate Expanded 500 Basis Points to 37.9%
- Co issues in-line guidance for Q3, sees EPS of $0.53-0.58, excluding non-recurring items, vs. $0.55 Capital IQ Consensus Estimate. Expects comparable store sales to range from -2.0% to 1.0% (prior range was comps down 0-3%)
- Co reaffirms guidance for FY17, sees EPS of $3.90-4.05, excluding non-recurring items, vs. $4.01 Capital IQ Consensus Estimate. Comparable store sales are now expected to range of -4.5% to -1.5%.
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