GameStop Q1 Earnings Highlights: Revenue And EPS Miss, Meme King Ryan Cohen Elected Exec Chairman And More
Portfolio Pulse from Chris Katje
GameStop reported Q1 net sales of $1.237 billion, down from $1.378 billion YoY, missing estimates of $1.36 billion. The company reported a net loss of $50.5 million and EPS loss of 14 cents, missing estimates of a 12 cents loss. Ryan Cohen has been elected as executive chairman.
June 07, 2023 | 8:27 pm
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GameStop's Q1 earnings missed estimates with lower net sales and a higher EPS loss. Ryan Cohen has been elected as executive chairman.
GameStop's Q1 earnings missed estimates, with net sales down and a higher EPS loss than expected. This negative financial performance is likely to put downward pressure on the stock price in the short term. However, the election of Ryan Cohen as executive chairman may provide some optimism for the company's future direction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100