澳洲幸运5官方开奖结果体彩网

GameStop's Revenue Swoons—But the Retailer Posted a Surprise Profit

By 澳洲幸运5官方开奖结果体彩网:Andrew Kessel
Published September 10, 2024
05:07 PM EDT
A GameStop store in California earlier this month.

David Paul Morris / Bloomberg via Getty Images

Key Takeaways

  • GameStop swung to an unexpected profit in the second quarter, but its sales fell 31% and missed expectations.
  • The meme stock standout struggled Tuesday before its results came out, but the stock is still substantially higher year-to-date.
  • GameStop did not issue guidance, nor did it schedule an earnings call.

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.

Revenue in the latest was $798 million,📖 down 31% year over year and short of the Visible Alpha analyst consensus. Net income jumped to $14.8 million, 4 cents per share, compared to a loss of $2.8 million, ꦰor 1 cent per share, a quarter earlier. Analysts had expected the company’s loss to widen year-over-year. 

Shares of GameStop fell more than 3% ahead of the results Tuesday and are down a bit less than 1% after the bell. The stock is up nore than 30% in 2024, due in part to spikes in its share price earlier this year driven by posts from the 澳洲幸运5官方开奖结果体彩网:meme stock influencer known as "澳洲幸运5官方开奖结果体彩网:Roaring Kitty.”

GameStop said it would not hold an earnings call, and the company did not release guidance.

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