GameStop, the well-known retailer for video games and entertainment software, has released its financial results for the fourth quarter of 2023. The company exceeded expectations with earnings per share (EPS) of $0.21 compared to a profit of $0.16 per share in the same period of the previous year.

Analysts had expected an EPS of $0.295, however. Quarterly revenue was $1.79 billion, falling short of experts' forecasts, which had anticipated revenue of $2.05 billion. In the same quarter of the previous year, GameStop had revenues of $2.23 billion.

These figures led to a significant decline in the share price of GameStop in pre-market trading on the New York Stock Exchange (NYSE), where the stock temporarily fell by 18.46 percent to 12.64 US dollars.

GameStop, which caused a stir as a meme stock in recent years, continues to face the challenges of the rapidly changing retail market for video games.