GameStop stock falls after retailer swings to surprise Q4 loss, confirms NFT marketplace plans

35213 gamestop stock falls after retailer swings to surprise q4 loss confirms nft marketplace plans

Shares of GameStop Corp. GME, +0.97% fell more than 8% in the extended session Thursday after the specialty retailer swung to a surprise quarterly loss and confirmed plans to launch a marketplace for non-fungible tokens, or NFTs. GameStop said it lost $147.5 million, or $1.94 a share, in the fourth quarter, versus earnings of $80.3 million, or $1.23 a share, in the year-ago period. Revenue rose to $2.25 billion for the quarter, compared with $2.12 billion a year ago, the company said. FactSet consensus, culled from three analysts, called for earnings of 85 cents a share on sales of $2.2 billion for the company. GameStop, part of the meme-stock phenomenon, also said it intends to launch its NFT marketplace by the end of the second quarter, without providing further details. GameStop shares ended the regular trading day up 1%.

Source: Marketwatch

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