GameStop Q3 Earnings Highlights: Revenue Miss, EPS Beat, Losses Continue To Improve Each Quarter (CORRECTED)
Portfolio Pulse from Chris Katje
GameStop Corporation (NYSE:GME) reported Q3 earnings with net sales of $1.078 billion, missing analyst estimates of $1.18 billion but showing a smaller loss per share of 1 cent compared to the expected 8 cents. The company continues to improve its losses each quarter, with no long-term debt outside of a COVID-19 related loan. GameStop shares rose 1.75% in after-hours trading.
December 06, 2023 | 9:24 pm
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GameStop's Q3 earnings showed a revenue miss but a smaller loss per share than expected. The company has no long-term debt and is on a path of reducing losses, with shares up 1.75% after hours.
The smaller-than-expected loss per share and the absence of long-term debt are positive signs for investors, indicating a potential turnaround in GameStop's financial health. The after-hours stock price increase reflects a positive market reaction to the earnings report, suggesting a short-term bullish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100