GameStop Shares Decline On Earnings, Outlook

GameStop Corp. shares declined in the extended session Thursday after the video-game retailer's quarterly results and outlook fell short of Wall Street estimates. GameStop shares fell 3.5% to $37.45 on moderate volume. The company reported adjusted fourth-quarter earnings of $2.15 a share on revenue of $3.48 billion. Analysts surveyed by FactSet estimated $2.16 a share on revenue of $3.61 billion. GameStop forecast first-quarter earnings of 53 cents to 60 cents a share. Analysts expect 66 cents a share. GameStop shares are heavily shorted, with short-interest positions on nearly 44% of outstanding shares, according to FactSet data.