As a seasoned gamer and investor with a decade-long affinity for GameStop, I find myself intrigued by this latest financial report. While the profit of $0.01 per share might seem insignificant to some, it’s a beacon of hope for me, reminiscent of the days when beating a tough boss in a game felt like a victory. The revenue falling short of expectations, however, is a bit disheartening, much like when your favorite character dies unexpectedly in a game.
As a dedicated gamer, I’m sharing the latest from GameStop’s Q2 2024 earnings report. The numbers are showing a bit of a rollercoaster ride. Despite predictions suggesting a loss of $0.08 per share, they actually reported a small profit of $0.01 per share instead. However, the revenue fell short of expectations, coming in at $798.3 million, while experts anticipated $896 million.
Here’s a breakdown of the GameStop earnings release:
- Net sales were $0.798 billion for the second quarter, compared to $1.164 billion in the prior year’s second quarter.
- Selling, general and administrative (“SG&A”) expenses were $270.8 million, or 33.9% of net sales for the second quarter, compared to $322.5 million, or 27.7% of net sales, in the prior year’s second quarter.
- Net income was $14.8 million for the second quarter, compared to a net loss of $2.8 million for the prior year’s second quarter.
- Cash, cash equivalents and marketable securities were $4.204 billion at the close of the quarter.
GameStop will not be holding an earnings conference call today.
This piece is intended solely for educational use; it’s not financial advice. Remember to factor in your personal investment timeline, risk level, and seek guidance from a financial expert prior to utilizing this knowledge.
Full Disclosure:
In the context of this piece, the key stakeholders related to Shacknews – Asif A. Khan himself, his relatives, and his firm Virtue LLC – held these roles:
Long GameStop via GME shares
Long GameStop via GME call options
Read More
Sorry. No data so far.
2024-09-10 23:57