Home Business GameStop Has Big Advantages Technology Startups Would Die For

GameStop Has Big Advantages Technology Startups Would Die For

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Here’s how I think about GameStop: It is no longer a retailer of video games but a well-financed technology startup with powerful advantages. I know some on Wall Street disagree. They would rather closely parse the company’s latest earnings to evaluate its progress. And on that front, the company posted better-than-expected sales results with revenue of $1.18 billion in the quarter ended in July, up 26% compared to the prior year, and above the $1.12 billion Bloomberg consensus. GameStop also reported an adjusted loss of 76 cents a share for the period, which was modestly wider than the average estimate.  The shares, which initially traded flat on the news, then proceeded to slump about 7% in after-market trading when management said it wouldn’t provide guidance on its investor call.

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