GameStop stock falls after retailer swings to surprise Q4 loss, confirms NFT marketplace plans
Shares of GameStop Corp. GME,
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 to $ 2.1[ads1]2 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%.
