GameStop stock falls in late trading after retailer swings to surprise loss

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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%.

This article was originally published by Marketwatch.com. Read the original article here.

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