GameStop's third quarter disappoints on lack of hit titles, inflation pinch

A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2022. REUTERS/Brendan McDermid/File Photo

(Reuters) - Videogame retailer GameStop Corp reported a bigger-than-expected loss and quarterly revenue that missed estimates, hurt by a dearth of new hit game releases and a pullback in spending against the backdrop of decades-high inflation.

GameStop launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs.