** charts before earnings **
** charts after earnings **
- GameStop crumbles on weak 2017 profit guidance
The Grapevine, Texas-based video-game retailer posted mixed fourth-quarter financial results and guided analysts lower on earnings for the current year.
GameStop stock was down almost 11%, near 21.35, in after-hours trading on the stock market today. During the regular session Thursday, GameStop fell 0.5% to 23.96.
Results: The company earned $2.38 a share excluding items, down 1% year over year, on sales of $3.045 billion, down 14%, in the quarter ended Jan. 28. Analysts polled by Thomson Reuters expected Grapevine to post adjusted earnings of $2.29 a share on sales of $3.095 billion.
Outlook: GameStop said it expects adjusted earnings of $3.25 a share this year, based on the midpoint of its guidance, compared with Wall Street's target of $3.73 a share. It is modeling for flat revenue this year, with sales in a range of down 2% to up 2%. In fiscal 2016, GameStop posted sales of $8.61 billion, down 8.1%.
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