GME Stock Recent News

The videogame retailer reported earnings of 4 cents per share for the three months ended Aug. 4, beating expectations for a 9 cents per-share loss.

GameStop Corp (NYSE:GME) shares continued to fall in aftermarket trading despite the retailer announcing its first profitable second quarter in seven years. Net income came in at $14.8 million for the three-months to June, a significant turnaround from a $2.8 million loss in the same period last year.

GameStop (GME) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to loss of $0.03 per share a year ago.

GameStop Corp. faces strong competition from game publishers and big retailers, making a turnaround of its core business unlikely. I initiate a “Strong Sell” rating with a $14 target price. CEO Ryan Cohen has reduced costs and improved profitability but faces challenges in growing GameStop's revenue amidst declining physical retail relevance and rising digital distribution. GameStop's liquidity is stable with $4.204 billion in cash, but ongoing store closures and competition will likely lead to continued revenue decline and operational challenges.

GameStop's (GME) second quarter sales declined year-over-year, missing Wall Street's expectations, but the video game retailer managed to swing to a surprise profit.

GameStop Corp. swung to a profit in its second-quarter results after market close Tuesday, despite a decline in sales at the videogame retailer. The company's stock was down 1.4% in after-hours trading.

GameStop Corp (NYSE:GME) announced its first profitable second quarter in seven years, posting a net income of $14.8 million, a significant turnaround from a $2.8 million loss in the same period last year. The company reported earnings per share (EPS) of $0.01, beating analysts' expectations by $0.10.

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

Videogame retailer GameStop missed Wall Street expectations for quarterly revenue on Tuesday, as consumers moved away from traditional brick-and-mortar stores to online purchasing.

GRAPEVINE, Texas, Sept. 10, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the second quarter ended August 3, 2024. The Company's condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company's Form 10-Q and supplemental information can be found at https://investor.gamestop.com .