For the second quarter of FY2024, GAMESTOP CORP ($NYSE:GME) reported total revenue of USD 1163.8 million, representing a 2.4% increase from the same period last year. Net income for the quarter was USD -2.8 million, a significant improvement from the previous year’s loss of -108.7 million.
GAMESTOP CORP reported its second quarter earnings results on Wednesday, revealing a decrease in stock price of 2.5%. The stock opened at $19.1 and closed at $18.8, down from the previous closing price of 19.2. Despite the decrease, GAMESTOP CORP reported solid financial results with higher revenue compared to the same period last year. This increase in digital sales was mainly attributed to the success of their new digital distribution platform for gaming content.
Despite these positive results, GAMESTOP CORP’s stock price dropped due to the company’s decreased guidance for the third quarter. They lowered their estimated earnings per share, which caused investors to be wary of the company’s future outlook. Nevertheless, GAMESTOP CORP is still doing well overall and has seen strong revenue growth this quarter. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Gamestop Corp. More…
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At GoodWhale, we have analyzed the financials of GAMESTOP CORP in order to determine the risk level associated with it. We have concluded that GAMESTOP CORP is a medium risk investment in terms of financial and business aspects. In order to ensure that our assessments are accurate, we have identified one risk warning related to the income sheet. If you are a registered user of GoodWhale, you can check out this warning in detail. However, if you are not a registered user, we recommend that you sign up in order to get access to all the data and analysis provided by GoodWhale. More…
Risk Rating Analysis
Star Chart Analysis
The company offers a variety of gaming devices and games for purchase or rent from its retail locations and online store. GameStop Corp competes with Amazon.com Inc, ContextLogic Inc, and RH in the retail sale of video games and gaming devices.
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GAMESTOP CORP reported its second quarter earnings results for FY2024, with total revenue increasing 2.4% year-over-year to USD 1163.8 million. Net income improved from the previous year from USD -108.7 million to USD -2.8 million. This has been a promising update for investors, indicating that the company’s financial standing is improving and that it is showing potential for further growth. This could be a good opportunity for investors to consider, particularly as the company is making progress in expanding its digital capabilities and focusing on ecommerce offerings.