GameStop Posts Surprise Profit Amid Declining Revenue, Shares Rally [Yahoo! Finance]
GameStop Corporation (GME)
Last gamestop corporation earnings: 3/26 04:06 pm
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Source: Yahoo! Finance
Reversing a loss of $3.1 million from the same time a year ago, the video game retailer stated net profits of $17.4 million, or 4 cents per share. The embattled game retailer reported adjusted profits of 6 cents per share surpassing forecast projections of a 3-cent loss. Warning! GuruFocus has detected 5 Warning Signs with GME. But revenue for the quarter dropped 20% year-over-year to $860 million, short of Wall Street's projection of $888 million. The fall from $1.08 billion in the year before highlights difficulties maintaining sales increase. Still, GameStop shares jumped 8.2% in after-hours trading after the results release. Selling 20 million shares during the quarter, the business also said that it raised around $400 million via a "at- the-market" stock sale. GameStop affirmed that there are no intentions for any stock sales during the current fiscal year. Reflecting a 3.51% loss, GameStop's shares closed on the day of the news at $26.93. Rebounding 3.16%, the shares tr
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GME
Earnings
- 12/10/24 - In-Line
GME
Sec Filings
- 12/10/24 - Form 10-Q
- 12/10/24 - Form 8-K
- 12/5/24 - Form 3
- GME's page on the SEC website