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The New York Times 09 September, 2021 - 04:00am 18 views

What time is GME earnings report?

Financial News 25, 2021 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) , today announced that it will report second quarter fiscal 2021 earnings results after the market closes on Wednesday, September 8, 2021. The Company will host an investor conference call at 5:00 pm ET on the same day... gamestop.comInvestor Relations | Gamestop Corp.

Shares remained in a holding pattern for about an hour before plunging as much as 10% following a brief conference call in which GameStop’s new chief executive, Matt Furlong, read off a press release and took no questions.

Revenue rose 26% to $1.18 billion from $942 million a year ago.

Analysts surveyed by FactSet had expected a net loss of 67 cents a share on revenue of $1.12 billion.

The company also announced it had entered into a lease of a new 530,000-square-foot fulfillment center in Reno, Nev., as well as the lease of a new customer care center in Pembroke Pines, Fla.

Net sales [revenue] remains the ultimate barometer of the company’s financial performance for investors, GameStop CEO Furlong said during an 8-minute conference call after the results were announced. The company did not take questions.

Wednesday’s results reflect more favorable debt and growth from a year ago, when the company reported a loss of $1.40 a share.

This isn't the first time Bernard Arnault, the head of the sprawling luxury conglomerate LVMH, has been crowned the world's richest person.

Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.

Read full article at The New York Times

GameStop down after hours following Q2 earnings release

Yahoo Finance 09 September, 2021 - 10:50am

A Partnership Between AMC Entertainment (AMC) And GameStop (GME) Is as Risky as a First Date Arranged by Your Friends

Wccftech 09 September, 2021 - 07:57am

AMC Entertainment (NYSE:AMC), the movie theater chain that has seen a dramatic reversal in fortunes amid a mind-boggling retail-driven stock price rally, is entertaining notions of a partnership with GameStop (NYSE:GME), the only other pivotal bastion of fidelity among Reddit-based traders. However, such a tie-up entails significant risks and pitfalls.

To wit, Liz Claman at Fox Biz has now tweeted that the CEO of AMC Entertainment, Adam Aron, has reached out to GameStop for a possible tie-up:

BREAKING: $AMC @CEOAdam Aron to @ClamanCountdown: We have made contact with $GME @GameStop on a partnership, we're not ready to say what it is." says AMC now playing offense to get folks back to the theatres w/epic $25m ad spend

— Liz Claman (@LizClaman) September 8, 2021

Crucially, we do not know the nature of the partnership that is being mulled over. For instance, is AMC Entertainment willing to offer up its gigantic screens to gamers? Amid a pandemic-driven lull in blockbuster releases, such a strategy makes sense, at least prima facie. However, most gamers prefer to engage in this activity from the comfort of their homes, often on custom-built gaming stations and rigs that are tailored to their individual taste and preferences. I don’t think that a mass gaming avenue would garner much appeal even on AMC’s gigantic screens, particularly amid the prevailing pandemic-related realities.

What about Esports events? After all, AMC Entertainment theaters can serve as a perfect venue for holding these gaming events. True, such a tie-up does make sense. However, what impact would this partnership have on the two companies’ bottom-line given the relative rarity with which Esports events are held?

Bear in mind that both AMC Entertainment and GameStop have been presented with a once-in-a-lifetime opportunity to revive their failing business models, and run-of-the-mill ideas simply would not work.

I believe that the key here is Non-Fungible Tokens (NFTs). We had noted in a previous post that GameStop has now activated a dedicated website for NFTs. While the details are scarce at the moment, the website references players, creators, and collectors, thereby indicating an incoming ecosystem to cater to the gaming community. For the uninitiated, NFTs are digital imprints of photos, videos, and other digital files that are stored on a blockchain. Additionally, NFTs are also being used to develop and monetize video games, hence GameStop’s logical interest in this field.

A fantastic way for GameStop and AMC Entertainment to collaborate would be for the theater chain to integrate with GameStop’s upcoming NFT platform, allowing complete interoperability and transferability. For instance, theatergoers should be allowed to redeem their tickets for NFTs on GameStop’s platform and vice versa. This approach would not only create additional demand for GameStop’s NFT platform but also allow AMC Entertainment to tap into this growing phenomenon – a win-win formula.

Nonetheless, as stated earlier, we do not know the precise configuration that a partnership between GameStop and AMC Entertainment would take. It might not even materialize. If the tie-up consists of conventional ideas described in the earlier part of this article, it might not catch on. On the other hand, ingenuity and out-of-the-box thinking might win the day.

It is for these reasons that I believe a potential partnership between AMC Entertainment and GameStop is as risky as a first date arranged by your friends – a small chance of success and an overwhelming potential for disaster.

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