(GameStop) Shares of GameStop plunged more than 4% on Thursday after the company reported a net loss of $105.4 million in the third quarter of 2021, worse than the $18.8 million loss in the prior year.
The company’s net sales were an improvement from $1.005 billion reported last year to $1.297 billion in the third quarter this year. Gross profit was reported at $318.6 million, better than $276.3 million in the prior year.
The basic and diluted loss per share was $1.39, worse than a loss of $0.29 in the prior year. Operating loss widened to $102.9 million, from a loss of $63.0 million in the prior year.
GameStop says while most operations normalized in the second quarter, its largest market, Australia, remains temporarily closed due to rising Covid-19 cases.
GME: NYSE is down -4.22% on premarket.
