GameStop, a gaming retailer, saw its stock drop by 7% after reporting mixed second-quarter results. While revenue decreased to $798 million from $1.16 billion compared to the previous year, the company’s net income improved to 4 cents per share from a loss of 1 cent per share. GameStop also announced plans to sell up to 20 million shares of its class A common stock through Jefferies. Petco Health and Wellness, a pet retailer, saw its shares rise by 4% after posting second-quarter earnings that met expectations. However, the company’s revenue of $1.52 billion fell slightly below the anticipated $1.53 billion. For the third quarter, Petco expects to report an adjusted loss of 3 to 4 cents per share, better than the estimated loss of 4 cents per share.
Dave & Buster’s Entertainment, an arcade chain, witnessed an 8% increase in its stock price after reporting earnings per share of 99 cents, surpassing the forecasted 84 cents by analysts. However, the company’s revenue of $557 million was lower than the expected $561 million. Morgan Stanley’s stock fell by 1% following a downgrade to neutral from buy at Goldman Sachs. Goldman analyst Richard Ramsden expressed concerns about near-term challenges for the bank. Despite positive earnings results, Dave & Buster’s stock price experienced a small decline after hours. The company reported earnings per share of 99 cents, beating analyst expectations of 84 cents, but revenue fell slightly short of estimates at $557 million compared to the projected $561 million.
On the other hand, Petco Health and Wellness saw its stock price increase by 4% after posting second-quarter earnings that were in line with expectations. However, the company’s revenue of $1.52 billion was slightly below the anticipated $1.53 billion. For the third quarter, Petco expects to report an adjusted loss of 3 to 4 cents per share, better than the estimated loss of 4 cents per share. GameStop faced a 7% drop in its stock price after announcing mixed second-quarter results. While revenue declined to $798 million compared to $1.16 billion a year ago, the company reported an improvement in net income to 4 cents per share from a loss of 1 cent per share.
In summary, GameStop, Petco Health and Wellness, Dave & Buster’s Entertainment, and Morgan Stanley were among the companies making headlines after the bell due to their post-market trading activities. Despite reporting mixed results, GameStop, Petco, and Dave & Buster’s all experienced fluctuations in their stock prices after hours. These companies’ performances reflect the ongoing challenges and opportunities in the retail, gaming, and banking industries. Investors will be closely monitoring these companies’ future financial reports and announcements to assess their potential for growth and profitability.
