GameStop spikes after the Nintendo Switch boosts sales (GME)

pulse

November 21, 2017 9:51 PM

It's all thanks to the Nintendo Switch.

Shares of
GameStop reported adjusted earnings of $0.54 cents per share, well above Wall Street's expected $0.44 that Wall Street was expecting.
The Texas-based company reported revenue rose 1.5% versus a year ago to $1.99 billion thanks to
"Our third quarter sales results were driven by strong software demand and continued momentum for Nintendo Switch and collectibles,” Interim Chief Executive Officer Dan DeMatteo said in the earnings release.
Same store sales were up 1.9%, compared to the expected drop of 2.4%.
GameStop expects full-year 2017 earnings per share of between $3.10 to $3.40. Wall Street was anticipating 2017 EPS of $3.31.
Shares are down 30.56% this year.