GameStop Stock Gains Ahead of Landmark Q4 Earnings Release
GameStop (NYSE: GME), the well-known video game retailer, is set to release its fourth-quarter earnings report after the market closes on March 26, 2023. The report is highly anticipated by investors and analysts alike, as it could serve as a significant catalyst for the company’s stock price.
Analysts Expect $0.29 EPS, $2.05 Billion in Q4 Revenue for GameStop
Wall Street analysts expect earnings per share (EPS) of 29 cents and revenue of $2.05 billion for the holiday quarter of 2023.
The expected results for Q4 2023 show an improvement compared to the previous year’s performance. In Q4 2022, GameStop reported an EPS of 16 cents and revenue of $2.23 billion.
Investors and GameStop enthusiasts are closely monitoring the upcoming earnings release, hoping for strong results that could indicate positive momentum for the company.
The report’s significance lies in its potential to influence the stock’s direction, either positively or negatively, based on the company’s performance during the crucial holiday quarter.
GameStop Stock Gains Before Earnings Release
Leading up to the earnings release, GameStop’s stock price has experienced a notable uptick. At the time of writing, it was up 12.67%, trading at $14.76 per share, marking its potential for the largest daily percentage increase in four months.
However, the company’s stock faced challenges earlier in the year, with an 11.46% decline in 2024 compared to the S&P 500 index’s gain of 9.6%.
Despite the recent stock price movements, GameStop’s market capitalization and stock price remain significantly lower than their peaks during the meme stock craze of 2021.
The company has undergone major leadership changes to revitalize its business, with Ryan Cohen being named CEO in late September of the previous year.
Do you think GameStop will be able to meet the expectations set for Q4? Let us know in the comments below.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
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