earnings report

How COVID-19 Is Impacting EA’s Business

Source Node: https://www.gamespot.com/articles/how-covid19-is-impacting-eas-business/1100-6478846/?ftag=CAD-01-10abi2f
Time Stamp: June 22, 2020 9:35 PM - Modified On: June 22, 2020 - Published By:
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Republished By Plato

Due to the COVID-19 pandemic, more people are staying home and playing video games. As such, spending on gaming has grown, and Electronic Arts is among the companies that is benefitting. In a new "fireside chat," EA CFO Blake Jorgensen said the company is expected to announce its biggest-ever Q1, which runs April-June.EA said in May that it expects to make $5.525 billion in revenue and a profit of $978 million for the period, which is a record for Q1, but Jorgensen said that the real numbers will be even

GameStop Loses $165 Million After Temporarily Closing More Than 3,000 Stores Due To COVID-19

Source Node: https://www.gamespot.com/articles/gamestop-loses-165-million-after-temporarily-closi/1100-6478216/?ftag=CAD-01-10abi2f
Time Stamp: June 9, 2020 8:50 PM - Modified On: June 9, 2020 - Published By:
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Republished By Plato

Video game retailer GameStop has announced earnings for its first quarter ended May 2, and as expected, it was a tough period for the company. In total GameStop posted a loss of $165.7 million. For comparison, during the same quarter last year, GameStop posted a profit of $6.8 million. The poor results are due in part to the COVID-19 crisis. GameStop shut down all of its 3,526 stores in the United States; about 65 percent of these stores offered curbside pickup for orders. Internationally, Australia's GameStop-owned EB Games was a