GameStop earnings: Retailer details NFT marketplace launch after surprise Q4 loss

Yahoo Finance Live's Julie Hyman and Brian Sozzi discuss quarterly earnings for GameStop ahead of the company's NFT marketplace launch.

Video Transcript

JULIE HYMAN: And then thing number three this morning is another earnings report, and that one from GameStop. The company reporting a loss analysts. Weren't looking for a loss at all. They were looking for a profit of $0.84. Revenue coming in a little ahead of estimates. And the company gave a tiny drop more details on its NFT marketplace. It says it's going to launch by the end of fiscal second quarter. But the shares are down 9%, Soz.

BRIAN SOZZI: Yeah, well, you have to commend GameStop CEO Matt Furlong. Quarter over quarter, or sequentially, as analysts would say, he did hold a little bit of a longer earnings call. So this earnings call last night from GameStop, 10 minutes and 52 seconds. The one from the third quarter, a little over 9 minutes. So really, Furlong putting in those very long hours here in trying to articulate to investors what his plan actually is.

And once again, Julie, I think you're seeing the market here very disappointed, because really, they're not getting what this company is going to do to turn itself around. Really, a lack of detail. And frankly, it's very embarrassing.

Also want to note this quote from Furlong. He said on the earnings call last night, we know the investments and sacrifices made in fiscal year 2021 will take time to yield tangible value. We are completely comfortable with that.

I'm glad he is, because investors continue to show that they are growing uncomfortable with that. But we'll talk more about this later.

JULIE HYMAN: You love to bait the GameStop fans. I'm anticipating--

BRIAN SOZZI: This is the news

JULIE HYMAN: --anticipating the tweets as we speak. So I look forward to your interaction with those folks.