What's Going On With GameStop Stock?
Portfolio Pulse from Adam Eckert
GameStop Corp (NYSE:GME) reported a 2.5% YoY increase in Q2 sales to $1.16 billion, beating the consensus estimate of $1.14 billion. The company also reported a quarterly loss of 3 cents per share, better than the estimated loss of 14 cents per share. GameStop ended the quarter with $1.195 billion in cash, equivalents and marketable securities. The company's stock was down 1.92% at $18.40 at the time of publication.
September 07, 2023 | 12:46 pm
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GameStop's Q2 sales beat estimates, but the stock price fell 1.92% to $18.40. The company ended the quarter with $1.195 billion in cash, equivalents and marketable securities.
Despite beating Q2 sales estimates, GameStop's stock price fell, indicating that the market may have expected better results. The company's strong cash position could provide some stability in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100