Dec 6 (Reuters) - GameStop missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer's pivot to a more online-focused model.

Sticky inflation and high borrowing costs have led to uneven spending in the gaming industry. Recently, two major players, including Take-Two Interactive Software, gave an underwhelming forecast.

GameStop's shares fell nearly 3% in extended trading. Its results are the first since top investor Ryan Cohen joined as CEO and chairman in late September, tightening his grip on the ailing company.

Cohen doubled-down on costs, focusing on "extreme frugality," CNBC reported in September, citing an email sent by him to employees.

GameStop's expenses for the third quarter were down nearly 24% at $296.5 million, and the company managed to post adjusted breakeven earnings per share, compared with LSEG estimates of a loss of 9 cents per share.

Cohen, who had initially tried to steer GameStop aggressively towards e-commerce, has backtracked on some of the plans and relied more on brick-and-mortar stores, using them as places where customers can pick up online orders.

GameStop reported revenue of $1.08 billion for the third quarter, compared with estimates of $1.18 billion, according to five analysts polled by LSEG.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shinjini Ganguli)