GameStop, Dave & Buster's, GitLab: After-Hours Movers
GameStop (GME) missed first quarter earnings estimates, the video game retailer's stock subsequently sliding in extended-hours trading.
Dave & Buster's Entertainment (PLAY) shares get a lift despite missing earnings forecasts.
Lastly, GitLab (GTLB) stock drops after the open-source platform disappointed Wall Street on its second quarter guidance.
To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
All right, let's take a look at what's trending now after hours. GameStop, Dave and Busters and GitLab, all moving following their earnings. Let's start here with GameStop. The company is reporting net sales of hardware and accessories in the first quarter that didn't miss analyst estimates as Q1 revenue fell 17%. GameStop announced they purchased over 4,000 Bitcoin between May 3rd and June 10th. The meme stock also reporting an operating loss of 10.8 million, which does include a $35.5 million of impairment charges. We're also watching Dave and Buster's here, reporting first quarter earnings that missed estimates. Company's net sales falling 17% year-over-year. The arcade and entertainment venue share sharing revenue on par with estimates, but shares are falling during after-hours trade. And GitLab is also on our radar. Shares dropping after missing expectations with its second quarter forecast. Revenue was up 27% for the software company in the first quarter. Outlook for the future looking flat with revenue expectations falling short for the next quarter.
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