Video game company GameStop Corp. (NYSE: GME) has reported a narrower net loss for the third quarter of 2023 when its revenues declined.
The company posted a net loss of $3.1 million or $0.01 per share for the October quarter, compared to a loss of $94.7 million or $0.31 per share in the same period of last year. Gross profit was $281.8 million, vs. $291.6 million last year.
Third-quarter net sales were $1.08 billion, compared to $1.19 billion in the prior-year period. Cash, cash equivalents and marketable securities were $1.210 billion at the close of the quarter.