All articles tagged with #revenue drop
GameStop's stock declined 4% in 2025 due to a 17% drop in quarterly revenue to $732.4 million, despite turning a profit of $83.1 million from a previous loss. The company also disclosed no recent bitcoin purchases since last month, after previously buying 4,710 bitcoins, worth nearly $516 million at current prices. Additionally, GameStop plans to issue $1.3 billion in convertible bonds for corporate purposes, including bitcoin acquisitions.
Cracker Barrel plans to raise menu prices by 5% after reporting a 1.9% revenue drop in the third quarter, as the CEO admits the chain is "just not as relevant" as before. The company aims to revamp its restaurants and update its menu to regain relevance and appeal to younger customers while maintaining its traditional base. Despite disappointing earnings, Cracker Barrel's stock rose 3% as earnings per share beat analyst estimates.
Bloom Energy's stock plunged by 19.2% after reporting a nearly 23% drop in revenue for the fourth quarter and the unexpected departure of its president and CFO, Greg Cameron. The company attributed the revenue decline to challenges in its Korean business and stated that it had to "hit a pause" in sales to Korea to adapt to new government policies. Despite swinging to a profit in the fourth quarter, investors are concerned about the sales hit and are giving up on the renewable energy company for now.
Hasbro reported a more than 20% drop in fourth-quarter revenue and issued a downbeat 2024 forecast, with shares dipping around 5%. The company's earnings per share and revenue fell short of analyst estimates, with a significant loss for the last three months of 2023. Revenue declined 15% for the full year 2023, with double-digit drops in consumer products and entertainment segments, but an increase in Wizards of the Coast and digital gaming revenue. Hasbro expects further revenue declines in 2024 and plans to cut $750 million in costs by the end of 2025, following layoffs of 1,100 employees in December.
Many Western arms companies struggled to increase production capacity in 2022 despite a rise in demand for weapons and military equipment due to labor shortages, rising costs, and supply chain disruptions worsened by Russia's invasion of Ukraine, according to the Stockholm International Peace Research Institute (SIPRI). The revenues of the world's largest arms-producing and military services companies dropped by 3.5% to $597 billion, with U.S. companies experiencing a 7.9% decline. However, new orders related to the war in Ukraine are expected to contribute to future revenue, and companies in Asia and the Middle East demonstrated their ability to respond to increased demand more quickly.
FedEx reported its third straight quarterly revenue drop due to weakened demand following the pandemic boom. The company is looking to cut costs by reducing flights and grounding more aircraft, as well as combining its Express and Ground delivery networks into one business, hoping to cut around $4 billion in costs over the next two years. Despite missing expectations for quarterly sales, the company beat analyst estimates for per-share earnings. FedEx is projecting low single-digit revenue growth and per-share earnings between $16.50 and $18.50 on an adjusted basis for the fiscal year.
AMD reported a 9% drop in revenue for Q1, with the biggest decline in its client group, which includes sales from PC processors. The company's net loss was $139 million, compared to net income of $786 million during the same period last year. Despite beating Wall Street expectations for earnings and sales, AMD's guidance for the current quarter was lower than expected, causing shares to drop over 3% in extended trading. However, CEO Lisa Su signaled that the company expects growth in the second half of the year as the PC and server markets strengthen.