This isn't a good sign.
[h=2]What you need to know[/h]
- GameStop recently posted its earnings and they fell short of expectations.
- Used game and hardware sales are down by 20 to 35 percent.
- The company has suspended divided payouts to shareholders.
- Analysts don't expect the company to recover.
It's no secret that the gaming industry is rapidly moving towards complete digital distribution, and it looks like GameStop may be one of this trend's biggest casualties. Yesterday, the struggling company revealed its earnings, and they missed target revenue. According to a report by
VentureBeat, "the company's stock price has crumbled to $5, which is the lowest this has been since 2013... GameStop's outlook is dire in part because its core business — selling hardware and used games — is starting to dry up."
Full story from the WindowsCentral blog...
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