04:32 PM EDT, 03/26/2024 (MT Newswires) -- GameStop ( GME ) said late Tuesday its fiscal fourth-quarter revenue declined on an annual basis, driven by weakness across the video game retailer's segments.

For the three months ended Feb. 3, GameStop's ( GME ) sales fell to $1.79 billion from $2.23 billion a year earlier. The stock was plunging 17% in after-hours trade.

Sales from hardware and accessories fell to $1.09 billion in the fourth quarter from $1.24 billion last year. Software revenue dropped to $465.3 million from $670.4 million, and collectibles declined to $233.7 million from $313.2 million.

Its adjusted earnings rose to $0.22 a share from $0.16. Two analysts polled by Capital IQ estimated normalized EPS of $0.30 a share on revenue of $2.05 billion.

Wedbush Securities said Monday that it had forecast GameStop ( GME ) sales at $2 billion for the quarter, citing strong industry trends. GameStop ( GME ) has not provided a sales or earnings guidance since 2019, according to Wedbush.

GameStop ( GME ) said it will not hold a conference call on Tuesday to discuss the results.

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