Online game retailer GameStop Company GME introduced second-quarter monetary outcomes after market shut Wednesday. Listed here are the important thing highlights.
What Occurred: GameStop reported second-quarter internet gross sales of $1.16 billion, which had been up 2.5% year-over-year. The online gross sales from the corporate beat analysts’ consensus estimates of $1.14 billion, based on knowledge from Benzinga Professional.
The corporate reported a lack of 3 cents per share for the second quarter, which got here in forward of an estimated lack of 14 cents per share from analysts.
GameStop reported $4.3 million in restructuring prices within the second quarter, associated to its European operations.
The corporate ended the second quarter with $1.195 billion in money and money equivalents. GameStop had no long-term debt exterior of 1 unsecured time period mortgage associated to the COVID-19 pandemic.
Associated Hyperlink: GameStop Q2 Earnings Preview
What’s Subsequent: GameStop won’t be holding a convention name to debate the second quarter monetary outcomes. The corporate additionally selected to not have a convention name after its first quarter monetary outcomes.
GameStop has seen a number of govt modifications in 2023.
A film known as “Dumb Cash” that can concentrate on the storyline of buyers in GameStop inventory versus hedge funds and quick sellers will hit theaters on Sept. 22. The film from Sony Group Corp SONY may see GameStop shares as soon as once more within the highlight later this 12 months.
GME Worth Motion: GameStop shares are up 1% to $19.01 in after-hours buying and selling Wednesday, versus a 52-week buying and selling vary of $15.41 to $34.98.
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