Why Jim Cramer Compares GameStop to Blockbuster

GameStop  (GME) - Get Report reported earnings. 

The company reported third-quarter revenue of $1 billion, a 30.2% year over year decrease, with a net loss of 53 cents per share.

Analysts were expecting GameStop to report revenue of $1.09 billion with a net loss of 85 cents per share.

"Our third-quarter results were in-line with our muted expectations and reflected operating during the last few months of a seven-year console cycle and a global pandemic, which pressured sales and earnings," said CEO George Sherman.

WATCH: Everything Jim Cramer Is Watching in the Markets Wednesday

Latest Videos From TheStreet and Jim Cramer:

• Coronavirus: The Latest Numbers on the COVID-19 Pandemic
• Streaming Isn't Enough to Make Jim Cramer Buy AT&T Stock
• What Stimulus Checks Do and Don’t Mean For Your Taxes
• Time Is Right for Airbnb, DoorDash IPOs, Asset Manager Says
• Drivers of Disruption and Innovation in the PPE Space
• Why Jim Cramer Is Confident on a Vaccine Rollout
• Jim Cramer: How to Balance Stay-At-Home and Return to Normal Plays