GME Earnings Beat Estimates but Still Lost

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💡Summary: • $GameStop (GME.US)$ exceeded Wall Street estimates with its top and bottom line second quarter results. • EPS was -0.17%, up yea Show More

💡Summary:

• $GameStop (GME.US)$ exceeded Wall Street estimates with its top and bottom line second quarter results.

• EPS was -0.17%, up year over year.

• Game Stop reported its revenue rose about 2% to $1.16 billion.

The earnings report rose above the $1.14 billion wall street estimated. The Texas-based company attributed the rise in revenue to "significant software release" along with increased sales of new gaming hardware in several international segments.

Software and collectibles sales made about 49% of total revenue, while the remaining half was made of flat hardware sales. However, software sales rose 25%, offset by a 24% decline in collectibles.

With efficient cost-cutting efforts, Game Stop reduced its selling, general, and administrative expenses to $322.5 million, making 27.7% of net sales while during last year’s comparable quarter, these expenses amounted to $387.5 million, making up about 34.1% of net sales. But Game Stop also had transition costs $4.3 million from its store closures in Europe

🎙️Q:

1. Is GME a buy despite earnings?

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sincere Dove_0543

Sep 7, 2023 07:23

How nice, all gains lost from run up.

$GameStop(GME.US)$

GME Earnings Beat Estimates but Still Lost

manyjackie

Sep 7, 2023 04:32

GME ape feels for you. Ape <3 ape

I remember the days when we would go hand in hand. The stonks moved simultaneously, and we had peaks and dips together. Just want to say I feel for you guys, and its painful to watch the stonk going down and getting diluted so much. Take good care y’all. Hoping green days to you all. Stay strong 💎 $AMC Entertainment(AMC.US)$ $GameStop(GME.US)$

GME Earnings Beat Estimates but Still Lost

moom lives

Sep 6, 2023 22:45

Stocks making the biggest moves after hours:

$GameStop(GME.US)$
— The video game retailer surged 5% after posting an increase in sales for its latest quarter. GameStop reported revenue of $1.164 billion in the second quarter, up from $1.136 billion in the year-ago period.
$American Eagle(AEO.US)$
— Stock in the clothing retailer slipped 2.6% after American Eagle reported second-quarter results. Revenue came in at $1.2 billion, meeting Wall Street estimates, according to LSEG, formerly known as ...

GME Earnings Beat Estimates but Still Lost

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