Jim Cramer and the Red Dead Experience - TheStreet

Jim Cramer and the Red Dead Experience

Jim Cramer learns more about Red Dead Redemption 2 and he discusses GameStop's next steps.
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GameStop (GME) - Get Report released earnings after the bell on Thursday, Nov. 30. 

TheStreet contributor M. Corey Goldman broke down the earnings

GameStop stock fell to $12.91 in premarket trading on the New York Stock Exchange after ending the Thursday at $14.63.

In its quarterly earnings release, GameStop reported adjusted quarterly profit of $68.3 million, or 67 cents a share, vs. $55.1 million, or 54 cents, in the comparable year-earlier period.

However, the company slashed its full-year outlook, saying total sales are now expected to be down between 2% and 6%, while comparable same-store sales are expected to be flat to down 5%. It forecast adjusted earnings per share of between $2.55 and $2.75 - well below its previous guidance for adjusted earnings of between $3 and $3.35 a share.

"While our Black Friday and Cyber Monday sales were strong, we anticipate that our fourth-quarter sales will skew more towards hardware than initially planned which, along with underperformance of certain titles, weakness in pre-owned and recent sales promotions, will result in fourth-quarter earnings that are below our previous expectations," said Rob Lloyd, GameStop chief financial officer, in a statement.

Jim Cramer expressed disappointment in the company's decision to focus on hardware, he even went so far as to compare the company to Blockbuster. 

Red Dead Redemption 2

Red Dead's online game went live earlier this week. 

So far, it's been a hit with TheStreet's Katherine Ross.

Cramer asked Ross all about the different consoles.

Cramer also noted that Take-Two Interactive (TTWO) - Get Report is still in his Action Alerts Plus bullpen.