GameStop Corp. (NYSE:GME) stock is trading higher on Wednesday after the retailer reported better-than-expected second-quarter sales results on Tuesday.
The company posted second-quarter revenue of $790.20 million, topping the analyst consensus estimate of $756.85 million. Adjusted earnings reached 27 cents per share, meeting Wall Street estimates.
The Nasdaq is down 0.45% while the S&P 500 has shed 0.58% and Consumer Discretionary is lower by 1.3%.
Top-Line Revenue Trends
Total revenue declined 18.72% year-over-year. Management attributed the lower revenue comparison to the prior-year launch of Nintendo Switch 2, planned store closures, and the divestiture of operations in France.
