GameStop reported fourth quarter and fiscal year 2021 results

GameStop has released financial results for the fourth quarter and fiscal year ended January 29, 2021. The video game and gaming console company's full year total revenue is $6011 million and fourth quarter total revenue is $2254 million; the full year total revenue is up 18% compared to what it was at this time last year and the fourth quarter total revenue is 6% more than the total revenue generated during the third quarter. The fourth quarter net income and adjusted EPS is $-147 million and $-1.94, respectively. The reported EPS is well below the expected EPS of $-0.52 that Wall Street's analysts expected it would be. The results came as a surprise considering that the game retail company established new and expanded brand relationships with companies such as Alienware, Corsair and Lenovo that contriuted to sales growth during the fourth quarter. The CEO of GameStop, Mark Furlong, said on the company's earnings call, "We’ve also had to change the way we assess revenue opportunities by starting to embrace, rather than run from, the new frontiers of gaming."