GameStop Corp (NYSE:GME) shares were down 6.9%, changing hands at $13.82 in premarket deals, after Wednesday’s afterhours earnings report disappointed.
The meme-stock and video game retailer posted third-quarter revenue of $1.08 billion, down 9% year-over-year and below Street expectations of $1.18 billion.
Adjusted earnings for the three month period, ended 31 October, were reported as breakeven though, versus expectations of a $0.08 per share loss.
Notably, the company didn’t hold an earnings call, nor did it provide commentary from management in its earnings statement.
The share decline is disappointing to options traders, who issued a flurry of option calls last week hoping that the stock would reach $20, $22 or even higher following its earnings report.