as informed in
GameStop (NYSE:GME) this week announced quarterly results for the key holiday shopping period that, as expected, included sharp declines in its core video game business.
To that end, they see the tech brands segment growing by 20% to at least $120 million in 2017.
On the other hand, “the video game category was weak, particularly in the back half of 2016, as the console cycle ages,” Rains explained.
The specialty retailer managed a few important wins, including improved profitability and spiking revenue from divisions that exist outside of the slumping video game segment.
“Looking at 2017, Technology Brands and Collectibles are expected to generate another year of strong growth, and new hardware innovation in the video game category looks promising.”
Top Analysts Join Earnings Conversation: GameStop Corp. (GME), Micron Technology, Inc. (MU)
GameStop Corp. (NYSE:GME) and Micron Technology, Inc. (NASDAQ:MU) delivered earnings yesterday evening and the stocks promptly boomeranged in opposite directions.
For the second fiscal quarter, MU brought in $4.65 billion in revenue, marking a 17% quarter-over-quarter rise, which aligned with consensus expectations of $4.64 billion.
Based on 16 analysts polled by TipRanks in the last 3 months, all 16 rate a Buy on Micron stock.
Let’s dive in:GameStop’s Appeal to Long-Term Opportunity on Pull-BackGameStop shares are falling 12% after a rocky fiscal fourth quarter.
Out of 15 analysts polled by TipRanks in the last 3 months, all 15 are bullish on GameStop stock.
as declared in Video Game Cycle.
If you don’t understand the video game cycle, then these numbers are bleak.
Keep in mind, however, where we are in the video game cycle.
The arguments about folks buying video games where the best deal is happens to be true.
But there is a decline in video game sales.
collected by :Molly Tony