GameStop falls more than 7% despite posting narrower loss and rising sales

People walk by a GameStop store in Brooklyn on January 28, 2021 in New York City.
Spencer Platt | Getty Images News | Getty Images

Video game retailer GameStop said Wednesday its fiscal second-quarter losses narrowed as sales rose from a year ago.

Shares of the company fell about 2% in extended trading.

For the quarter ended July 31, the company said it posted a loss of $61.6 million, or 85 cents per share, compared with a loss of $111.3 million, or $1.71 per share, a year ago. On an adjusted basis, GameStop lost 76 cents per share.

Sales rose to $1.18 billion from $942 million a year earlier.

According to Refinitiv, analysts were expected the company to post a loss of 67 cents a share on revenue of $1.12 billion.

This is breaking news. Please check back for updates.

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