Video game company GameStop Corp. (NYSE: GME) has posted a double-digit decrease in sales for the third quarter of 2024. The business swung to a profit from a loss in the prior-year quarter.
GameStop reported a net income of $17.4 million or $0.04 per share for the October quarter, compared to a loss of $3.1 million or $0.01 per share in the same period last year. On an adjusted basis, earnings per share was $0.06 in Q3.
Net sales declined to $860.3 million in the third quarter from $1.08 billion in the year-ago period. Cash, cash equivalents, and marketable securities were $4.62 billion at the close of the quarter.