GRAPEVINE, Texas (AP) _ GameStop Corp. (GME) on Tuesday reported a loss of $83.4 million in its fiscal third quarter.
The Grapevine, Texas-based company said it had a loss of $1.02 per share. Losses, adjusted for non-recurring costs and asset impairment costs, came to 49 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The video game retailer posted revenue of $1.44 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.61 billion.
GameStop expects full-year earnings in the range of 10 cents to 20 cents per share.
GameStop shares have decreased 49% since the beginning of the year, while the Standard & Poor's 500 index has increased 25%. In the final minutes of trading on Tuesday, shares hit $6.45, a decrease of 51% in the last 12 months.