GameStop Corporation Reveals Q1 Preliminary Results: Expects To Exit Quarter With Cash, Cash Equivalents And Marketable Securities Worth $1.073B-$1.093B (Prior Year: $1.310B)
Portfolio Pulse from Benzinga Newsdesk
GameStop Corporation has revealed its preliminary Q1 results, expecting cash, cash equivalents, and marketable securities to be between $1.073 billion and $1.093 billion, down from $1.310 billion in the prior year. SG&A expenses are expected to be between $290 million and $300 million, a decrease from $345.7 million in the prior year.
May 17, 2024 | 11:29 am
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GameStop's preliminary Q1 results show a decrease in cash and equivalents to $1.073B-$1.093B from $1.310B last year, but a reduction in SG&A expenses to $290M-$300M from $345.7M.
The decrease in cash and equivalents might concern investors, but the reduction in SG&A expenses could be seen as a positive sign of cost management. The overall impact on the stock price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100