Engine Gaming and Media (NASDAQ:GAME) stock is on the move today as investors celebrate positive fiscal Q4 2021 results.
Let’s dive into that news below to see why holders of GAME stock are smiling today.
- Let’s start with the company’s revenue in fiscal Q4, which came in at $11.8 million.
- That’s good news as it beats out Wall Street’s estimate of $10.8 million for the quarter.
- It’s also a nice boost over the $7 million reported in the same period of the year prior.
- Fiscal 2021 revenue also came in at $37.2 million.
- That’s another win for GAME stock over analysts’ estimate of $36.26 million.
- It also represents a 253% increase from the $10.5 million reported for fiscal 2020.
Tom Rogers, executive chairman of Engine Gaming and Media, said this in the earnings report.
“As younger demographics increasingly desert traditional media in favor of seeking social experiences in the gaming space – whether participating as a player or as a viewer of competitions – and are increasingly influenced in their marketing decisions by social content creators – we are investing to make our social experiences more robust and more unique for our users, while making our ability to execute social marketing and ad campaigns more effective and efficient for our industry clients.”
GAME stock is experiencing heavy trading today following its earnings report. As of this writing, more than 12 million shares of the stock have changed hands. That’s a massive jump compared to the company’s daily average trading volume of about 202,000 shares.
GAME stock is up 18.2% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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