Video game retailer GameStop (NYSE:GME) is scheduled to announce Q2 results on Wednesday, Sept. 7, after market close.
Consensus EPS estimate is -$0.41 (+46.1% Y/Y) and consensus revenue estimate is $1.27B (+7.6% Y/Y).
Over the last 2 years, GME has beaten EPS estimates 38% of the time and revenue estimates 50% of the time.
Consumer videogame spending slipped 13% Y/Y in Q2 as the industry grappled with tough comparisons and high inflation curbing consumer spending. Data from NPD Group showed that hardware sales fell 1%, while accessory sales dropped 11%.
SA contributor Daniel Jones in a bearish analysis said GME is fundamentally a mess, and is drastically overvalued by investors and speculators.
GME, which fell 34% YTD, has been exceptionally volatile, with a 52-week trading range of $19.40-$63.92.
The stock underperformed the Dow Jones U.S. specialty retailers and S&P 400 consumer discretionary indexes in the last 1 year.