From GlobeNewswire: 2024-12-10 16:05:00

GameStop Corp. released financial results for the third quarter, ending November 2, 2024. Net sales were $0.860 billion, down from $1.078 billion in the prior year. The company reported a net income of $17.4 million, a significant improvement from a net loss of $3.1 million in the previous year.

During the quarter, GameStop completed an equity offering program, selling 20.0 million shares for $400.0 million. Cash, cash equivalents, and marketable securities totaled $4.616 billion at the end of the quarter. The company does not anticipate further at-the-market offerings during the fiscal year.

GameStop uses non-GAAP measures like adjusted SG&A expenses and adjusted net income to provide investors with additional insight into the company’s performance. These measures exclude certain costs and help evaluate core operating performance. The company’s definition and calculation of non-GAAP measures may differ from others and should be viewed as supplementary to GAAP results.

Forward-looking statements in the press release outline the company’s industry, business strategy, and expectations. GameStop faces risks like economic conditions, industry competition, and technological changes. Factors like consumer behavior, supply chain interruptions, and regulatory compliance could impact future performance.

GameStop’s financial statements show a gross profit of $257.2 million in the third quarter. The company reported an operating loss of $33.4 million and a net income of $17.4 million. Cash flows provided by operating activities were $24.6 million, with free cash flow of $20.0 million.

Investors can find more information in the company’s Form 10-Q. GameStop’s financial results are available on their investor relations website. For further details or inquiries, investors can contact GameStop Investor Relations at 817-424-2001 or [email protected].



Read more at GlobeNewswire:: GameStop Discloses Third Quarter 2024 Results