GameStop (GME) Tops Q4 EPS by 9c, Will Stop Providing Qrt EPS/Same-Store Sales Guidance

(Updated - March 23, 2017 4:11 PM EDT)

(updated to add FY 2017 EPS guidance and correct FY 2016 Guidance number)

GameStop (NYSE: GME) reported Q4 EPS of $2.38, $0.09 better than the analyst estimate of $2.29. Revenue for the quarter came in at $3.05 billion versus the consensus estimate of $3.1 billion.

GUIDANCE:

GameStop sees FY 2017 EPS $3.10-$3.40 versus consensus of $3.69. Sees FY 2017 Sales (2%) to 2%.

Expects to close 2% to 3% of global stores.

Rob Lloyd, GameStop chief financial officer, stated, “Going forward, GameStop will provide annual guidance, and no longer provide quarterly EPS or same store sales guidance. We believe that providing only annual guidance will reduce investor distraction as we continue to diversify the company and seek to maximize long-term shareholder value. It also benefits our organization in that it concentrates attention on longer-term targets and reduces the focus on short-term results, which can be volatile given the current business environment.”

For earnings history and earnings-related data on GameStop (GME) click here.

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