GameStop’s stock has been at the core of a lot of conversation in video games and investment in 2021. The GME stock skyrocketed from a dismal state thanks to a concentrated effort by groups of traders early in 2021. It also allowed GameStop to pivot its business model and restaff much of its executive lineup. Unfortunately, Q2 2021 didn’t bring good news for GameStop. The company’s earnings results were less than stellar. Moreover, the company did not take questions in a Q&A session during an accompanying conference call.
GameStop had its Q2 2021 conference call webcast on its investor relations website on September 8, 2021. The call followed its earnings results release, which reported a larger than expected loss on earnings per share (EPS) on the previous quarter. The overall earnings results, and the call, were a mixed bag of news for GameStop investors. The company has aggressively grown and continues to grow its ecommerce operations, including the building of a few new customer care facilities. However, it did manage to beat Wall Street revenue expectations.
Those hoping to learn more from GameStop or seek particular information or speculation from the company’s executives would also come up short today. GameStop did not host a Q&A session in its conference call, leaving those participating unable to open up further avenues of discussion over various concerns with the company, its ongoing business, and its stock. Despite the change in staff from Q1 2021, including the replacement of George Sherman as CEO with ecommerce veteran and former Amazon executive Matt Furlong, this call seemed to go just as quickly as Sherman’s final call. Furlong quickly shared the highlights of the company’s Q2 2021 earnings results and then ended the call without taking questions.
It’s a bit of a concerning close to Q2 2021 for GameStop, or a very abrupt one at least, and the GME stock seems to currently be reacting in kind. Nonetheless, GameStop still stands in a better position than it was even a year ago. Follow the GameStop topic for the latest on the company and its stock here at Shacknews.