Shares ofGameStop Corp. (NYSE:GME) fell sharply during Friday's session after the company released worse-than-expected first-quarter results before schedule and filed to sell up to 75 million shares.
GameStop released its first-quarter 2024 results early Friday ahead of its scheduled June 11 date. The company reported net sales of $881.8 million, down from $1.237 billion year-over-year. The net sales total missed a consensus estimate of $995.3 million. The company reported a loss of 12 cents per share, missing the estimate of a loss of 9 cents per share, according to data from Benzinga Pro.
GameStop shares dipped 22.5% to $36.07 on Friday.
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