GameStop Shares Plunge on Mixed Q2 Earnings and Lululemon Shares Skyrocket After Q2 Earnings Beat

by 9 Sep, 2021

GameStop Shares Plunge on Mixed Q2 Earnings and Lululemon Shares Skyrocket After Q2 Earnings Beat

GameStop

On Wednesday, shares of GameStop slightly fell, closing down 0.10% during regular hours before plunging nearly 9% in after-hours trading.

Shares of the ​​American video game, consumer electronics, and gaming products company fell before it reported Q2 earnings.

The video game retailer reported a net loss of $0.85 per share vs a net loss of $0.67 per share as expected by analysts. Revenue rose 26% to 1.18 billion, up from $942 million a year ago.

GameStop also said it has signed leases for a new 530,000 square-foot distribution center in Reno, Nevada, and a new customer support center in Pembroke Pines, Florida.

Shares of GameStop have fallen 34% in the past three months.

Lululemon

On Wednesday, shares of Lululemon fell 1.45% before skyrocketing nearly 14% in after-hours trading.

Shares of the athletic-apparel retailer jumped after the company reported its Q2 earnings.

The company reported net income of $1.59 per share vs $1.19 per share as expected by analysts. Adjusted earnings were $1.65 per share. Revenue rose to $1.45 billion, up from $902.3 million a year ago.

For the third quarter, Lululemon expects earnings of $1.33 to $1.38 per share and revenue of $1.4 billion to $1.43 billion. Analysts expect earnings of $1.32 per share on $1.32 billion in revenue.

Shares of Lululemon have risen 16% in the past three months.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

 

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