GameStop Reports Disappointing Q1 Earnings, Misses Estimates with EPS Loss of $0.12

Jun 7, 2024, 10:29 AM

GameStop has reported its first-quarter earnings for 2024, revealing a disappointing performance. The company posted an adjusted earnings per share (EPS) loss of $0.12, missing the estimated loss of $0.09. Additionally, GameStop's revenue for the quarter was $881.8 million, falling short of the anticipated $1.05 billion. The company also reported a net loss of $32.3 million, which is an improvement from the previous year's net loss of $50.5 million. GameStop's cash and equivalents stand at $1.08 billion. SG&A expenses for the quarter were $295.1 million. The revenue declined from $1.237 billion in the first quarter of 2023 to $0.882 billion in the current quarter. Notably, the company has decided not to hold a conference call to discuss the earnings.