GRAPEVINE, Texas — GameStop Corp. (GME) on Wednesday reported a loss of $66.8 million in its fiscal first quarter.
The Grapevine, Texas-based company said it had a loss of $1.01 per share. Losses, adjusted for non-recurring costs, came to 45 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.
The video game retailer posted revenue of $1.28 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.18 billion.
GameStop shares have increased sixteenfold since the beginning of the year, while the S&P’s 500 index has climbed 12%. In the final minutes of trading on Wednesday, shares hit $302.56, increasing fold in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GME at https://www.zacks.com/ap/GME