GameStop Q2 Earnings Highlights: Revenue Miss, EPS Beat, Cash Update And More

Author: Chris Katje | September 10, 2024 04:23pm

Video game retailer GameStop Corporation (NYSE:GME) reported second-quarter financial results Tuesday after market close.

Here are the key highlights.

What Happened: GameStop reported second-quarter net sales of $798.0 million, which missed a Street consensus estimate of $895.7 million, according to data from Benzinga Pro.

Net sales were down from last year's second quarter total of $1.16 billion.

The company reported a profit of 1 cent per share, beating a Street consensus estimate of a loss of 9 cents per share.

Net sales by segment in the second quarter were the following, with comparable sales from last year's second quarter in parentheses.

• Hardware and Accessories: $451.2 million ($597.0 million)
• Software: $207.7 million ($397.0 million)
• Collectibles: $139.4 million ($169.8 million)

All three segments saw year-over-year declines.

GameStop ended the second quarter with $4.2 billion in cash, cash equivalents and marketable securities.

The company announced it will not be holding a conference call.

GME Price Action: GameStop shares are trading flat at $23.49 in after hours trading versus a 52-week trading range of $9.95 to $64.83.

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Posted In: GME