GameStop (GME) is poised to report fiscal first-quarter results after market close on Wednesday, which will likely reflect improved sales and narrowing losses even as many investors fixate on the company's "meme stock" clout over business performance.
Here are the main results Wall Street expects to see in GameStop's report, based on consensus estimates compiled by Bloomberg:
Q1 Revenue: $1.17 billion vs. $1.02 billion Y/Y
Q1 Adjusted loss per share: 71 cents vs. $1.61 Y/Y
GameStop, one of the original names to be pushed higher during a frenzy of retail investor activity earlier this year, has seen a renewed wave of interest online in recent weeks. Traders on platforms including Reddit's forum r/wallstreetbets have touted GameStop and other stocks like AMC Entertainment (AMC), BlackBerry (BB) and Bed Bath & Beyond (BBBY), which have each been the target of considerable short interest. In doing so, these users have helped stoke widespread purchases of these shares and catalyzed significant short squeezes, as those who bet against the stocks scrambled to cover their short positions.
