Impact-Site-Verification: 5cdd8087-b507-4133-9f84-8d865c9fc541
GameStop Corp. GME released financial results for the third quarter ended November 2, 2024.
GME THIRD QUARTER OVERVIEW
- GameStop Net sales were $0.860 billion for the period, compared to $1.078 billion in the prior year’s third quarter.
- Selling, general and administrative (“SG&A”) expenses were $282.0 million for the period, compared to $296.5 million in the prior year’s third quarter.
- Net income was $17.4 million for the period, compared to a net loss of $3.1 million for the prior year’s third quarter.
- Cash, cash equivalents and marketable securities were $4.616 billion at the close of the quarter.
- During the quarter, the Company completed its previously disclosed “at-the-market” equity offering program pursuant to the prospectus supplement filed with the SEC on September 6, 2024 by selling 20.0 million shares of its common stock for aggregate gross proceeds of approximately $400.0 million (before commissions and offering expenses). The Company does not anticipate any further at-the-market offerings involving the offer and sale of its common stock during the current fiscal year.
- GAAP EPS of $0.04
GameStop Business Segment Performance
• Hardware and Accessories: $417.4M down 27.9% YoY, 48.5% of total revenue.
• Software: $271.8M down 15.4% YoY, 31.6% of total revenue.
• Collectibles: $171.1M down 3.7% YoY, 19.9% of total revenue
No forward guidance provided for revenue or EPS in the Q3 financial results release
GameStop stock closed today 3.58% lower at $26.93 but after the release of the third quarter 2024 financial results the stock in after-market trading is 11.85% higher at $30.15.
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