Categories AlphaGraphs, Earnings, Leisure & Entertainment
GME Earnings: GameStop swings to profit in Q2; sales down 31%
GameStop Corp. (NYSE: GME) has reported a profit for the second quarter of 2024 compared to a loss last year. The video game company’s sales declined 31% in Q2.
GameStop reported net income of $14.8 million or $0.04 per share for the July quarter, compared to a loss of $2.8 million or $0.01 per share in the same period last year. On an adjusted basis, earnings per share was $0.01 in Q2, compared to a loss of $0.03 per share in the year-ago quarter.
Net sales declined to $798.3 million in the second quarter from $1.16 billion in the prior-year period. Cash, cash equivalents, and marketable securities were $4.2 billion at the close of the quarter.
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