Core Insights - GameStop Corp. (GME) reported third-quarter fiscal 2024 results, with net sales missing estimates and declining year over year, while adjusted earnings per share exceeded expectations and improved from the previous year [1][2]. Financial Performance - Adjusted earnings per share were 6 cents, surpassing the Zacks Consensus Estimate of break-even earnings [2]. - Net sales totaled $860.3 million, falling short of the consensus estimate of $900 million and decreasing by 20.2% from $1,078.3 million in the same quarter last year [3]. - Sales across all categories contributed to the decline in consolidated net sales [3]. Sales Breakdown - Hardware and accessories sales dropped 28% to $417.4 million from $579.4 million year over year [4]. - Software sales were $271.8 million, down 15.4% from $321.3 million in the prior year [4]. - Collectibles sales decreased 3.7% to $171.1 million from $177.6 million in the year-ago quarter [4]. - Geographic sales declines included 24.5% in Canada, 22% in Europe, 20.4% in the United States, and 12.5% in Australia year over year [4]. Margin and Expense Analysis - Gross profit decreased 8.7% to $257.2 million from $281.8 million in the year-ago quarter, but gross margin expanded by 380 basis points to 29.9% compared to 26.1% in the previous year [5]. - Adjusted selling, general and administrative (SG&A) expenses fell 4.4% to $281.8 million from $294.9 million year over year, with SG&A expenses as a percentage of net sales rising to 32.8%, up 550 basis points from 27.3% [6]. - The adjusted EBITDA loss was $11.2 million, a decline from an adjusted EBITDA of $5.1 million in the same quarter last year [6]. Operating Loss - The adjusted operating loss was $24.6 million in the reported quarter, compared to an adjusted operating loss of $13.1 million in the prior-year period [7]. Cash and Debt Position - GameStop ended the fiscal third quarter with cash and cash equivalents of $4.58 billion, marketable securities of $32.8 million, and net long-term debt of $9.6 million [8]. - Stockholders' equity stood at $4.8 billion, with merchandise inventory totaling $830.2 million, down from $1,021.3 million in the same period last year [8]. Cash Flow and Equity Offering - Net cash flow from operations was $24.6 million, up from $19.1 million in the prior-year period, with free cash flow totaling $20 million [9]. - Capital expenditures amounted to $4.6 million, and the company raised approximately $400 million through the sale of 20 million shares in its equity offering program [9]. Stock Performance - GameStop's shares rose 3% in after-market trading, with a 41.3% increase over the past three months, outperforming the industry's 17.4% growth [10].

Former "meme stock" GameStop Corp (NYSE:GME) is brushing off a third-quarter revenue miss this morning, after the video game retailer also shared a surprise profit. At last glance, the equity is up 5.6% to trade at $28.46.The shares sport a healthy 64.3% year-to-date lead, and are eyeing their best single-day percentage pop in one month. A floor at the $26 region has contained price action since late November. GameStop stock is still heavily shorted, despite short interest dipping 11.3% over the last two re ...

GameStop NYSE: GME shares edged higher following its Q3 release, but so what? The report included a surprise profit, but the underlying cause and business metrics align with the trend. This company continues to contract and is consuming itself at investors' expense. It only profited in Q3 because of increased interest income related to its cash buildup. The company raised billions in 2024, shoring up the balance sheet for an as-yet-to-be-determined turn-around effort.Get GameStop alerts:The ultimate takeawa ...

Company Performance - GameStop announced its financial results for the third quarter of the 2024 fiscal year after the market closed on December 10th [1] - The stock had fallen prior to the announcement [1] Industry Focus - Crude Value Insights provides an investing service and community focused on oil and natural gas [1] - The service emphasizes cash flow analysis and identifies companies with value and growth potential in the oil and gas sector [1] Service Offerings - Subscribers gain access to a 50+ stock model account [2] - In-depth cash flow analyses of exploration and production (E&P) firms are provided [2] - Live chat discussions about the sector are available for subscribers [2] Promotional Offer - A two-week free trial is available for new subscribers [3] - The service promotes a "new lease on oil & gas" for those who sign up [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED NOVEMBER 2, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NO. 1-32637 GameStop Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 625 Westport Parkway Grapevi ...

Exhibit 99.1 GameStop GameStop Discloses Third Quarter 2024 Results GRAPEVINE, Texas, December 10, 2024 (GLOBE NEWSWIRE) — GameStop Corp. (NYSE: GME) ("GameStop" or the "Company") today released financial results for the third quarter ended November 2, 2024. The Company's condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company's Form 10-Q and supplemental information can be found at https://investor.gamestop.com. THIRD QUARTER OVERVIEW • Net sales were $0 ...

GameStop’s shares jumped on Thursday after a cryptic post from meme stock influencer Keith Gill, who shot to notoriety after his online personas and bullish bets on the video game retailer sparked a trading frenzy among mom-and-pop investors.Gill posted a picture resembling a Time magazine cover from 2006 with a computer screen on social media platform X. Following his post, GameStop’s shares spiked and traded as high as $30.87. The stock closed up 6% at $28.63.Known as “Roaring Kitty” on YouTube and “DeepF ...

Shares of GameStop (GME) and other meme stocks popped on Thursday after Roaring Kitty, the online alias of meme stock ringleader Keith Gill, posted to X for the first time since September. Shares of GameStop jumped as much as 14% Thursday afternoon while AMC Entertainment (AMC), another favorite among meme stock traders, surged as much as 13%. Shares of online pet retailer Chewy (CHWY), also a meme stock favorite, were unaffected. Gill, at 1:45 p.m. ET on Thursday, posted a photo of a fake TIME Magazine co ...

GameStop Corporation GME shares are surging Thursday after Roaring Kitty (aka Keith Gill) posted a new tweet signaling his return to social media.What Happened: The X account of Roaring Kitty, which has 1.6 million followers, posted a new image that has the financial world buzzing, after the investor's previous return this year saw shares of meme stocks surge.The picture shows a TIME magazine cover with a computer with a video screen. The video is paused at the 1:09 minute mark, for a total length of 4:20. ...

GameStop (NYSE: GME ) is a cash-rich company with minimal debt, but it operates a declining business that is losing sales every quarter. What's more, the stock trades at valuation multiples out of step with the reality of a business withI am a researcher and operations manager at DM Martins Research. Previously, I contributed to TheStreet and currently write for platforms such as TipRanks and GuruFocus. Here at Seeking Alpha, my goal is to provide insightful analysis primarily on foreign equities, with a fo ...