MDY - GameStop Releases Q1 Results Ahead Of 'Roaring Kitty' Event Files Prospectus To Raise Capital Via Equity Offering | Benzinga
Video game retailer GameStop Corp (NYSE:GME) stock released its first-quarter 2024 results ahead of its scheduled June 11.
The company reported net sales of $881.80 million, down from $1.237 billion year-over-year. The net sales total missed a consensus estimate of $995.30 million.
The company reported an EPS loss of $(0.12), missing the estimate of $(0.09).
The performance reflects customer’s transition to video games and collectibles online, while the retailer depended on brick-and-mortar stores, Reuters reports.
The gross margin improved by 450 bps to 27.7%. ...