GameStop (NYSE:GME) Releases Quarterly Earnings Results, Hits Expectations
- On Tuesday, Grapevine, Texas-based GameStop reported second-quarter net income of $298.7 million, up from $168.6 million a year earlier, as gains tied to its eBay stake bolstered the bottom line.
- Collectibles emerged as the retailer's largest sales category at $356.3 million, rising 57% year over year, while video games revenue slid to $263.2 million amid store closures and the absence of a Nintendo Switch 2 launch.
- Management authorized a $2.0 billion share repurchase program running through June 2, 2029, while the company retired approximately $1.4 billion in convertible notes to reduce total long-term debt to approximately $2.8 billion.
- Operating income reached a record $160.2 million, the highest second-quarter operating income in company history, while adjusted EBITDA climbed to $174.0 million from $75.7 million a year earlier.
- The company holds roughly 43.4 million shares of eBay common stock valued at approximately $4.9 billion, though 59 million warrants at a $32.00 exercise price expire October 30, 2026.
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GameStop Is Making More Money Than Ever, But Not Because of Video Games
GameStop is surprisingly making more money than ever, but it’s not because of video game sales. In recent years, GameStop has been going through quite a tumultuous time. While it received a windfall of cash in the wake of its stock becoming a “meme” in 2021, this hasn’t stopped the longtime retailer from also being […]
GameStop has recorded progress in net profit in its last fiscal quarter, driven by growth in sales of collectible items, and has revised its financial projections upwards for the closing of the year. Exclusive subject matter for subscribers. To have full access, access the link of the subject and register.
GameStop (NYSE:GME) Releases Quarterly Earnings Results, Hits Expectations
GameStop (NYSE:GME - Get Free Report) announced its earnings results on Tuesday. The company reported $0.27 earnings per share for the quarter, hitting analysts' consensus estimates of $0.27. The company had revenue of $790.20 million for the quarter, compared to analyst estimates of $756.85 million. GameStop had a return on equity of 13.75% and a net margin of 20.45%.
GameStop: Fiscal Q2 Earnings Snapshot – WTOP News
GRAPEVINE, Texas (AP) — GRAPEVINE, Texas (AP) — GameStop Corp. (GME) on Tuesday reported earnings of $298.7 million in its fiscal second quarter. On a per-share basis, the Grapevine, Texas-based company said it had profit of 51 cents. Earnings, adjusted for one-time gains and costs, came to 27 cents per share. The video game retailer...
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