Investing.com -- GameStop plunged in afterhours trading Tuesday after the video game retailer reported fourth-quarter earnings that missed Wall Street estimates amid softer sales over the holiday period.
GameStop Corp (NYSE:GME) fell 17% in after-market trading following the report.
For the quarter ended Feb. 3, the company reported earnings of $0.22 per share1 on revenue of $1.79 billion, missing estimates for $0.28 and $2.07B, respectively.
Net sales fell by about 24% in Q4 from a year earlier, driven by a nearly 30% slump in its software business, which gaming software, digital software and PC entertainment software and makes up about a quarter of overall revenue.