GameStop Stock Slides On Q3 Earnings: EPS Beat, Revenue Miss Despite Collectibles Growth

Benzinga

GameStop missed Q3 revenue expectations but beat on earnings, posting $821M in sales and $0.24 adjusted EPS. Hardware and software declined, collectibles grew, and the company swung to operating profit while holding $519M in Bitcoin.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03GameStop reported third-quarter revenue of $821 million, missing expectations,

00:08but beat earnings expectations with adjusted earnings of $0.24 per share, according to Benzinga Pro.

00:15Revenue fell about 4.5% from last year as hardware and accessories declined to $367.4 million.

00:22Software fell to $197.5 million, while collectibles rose to $256.1 million.

00:30GameStop generated operating income of $41.3 million, compared to an operating loss of $33.4 million last year.

00:38The company ended the quarter with nearly $8.8 billion in cash, cash equivalents, and marketable securities,

00:45and held $519.4 million in Bitcoin.

00:50Shares were down 1.03% at $23.11 at Tuesday's close, according to data from Benzinga Pro.

00:57For all things money, visit Benzinga.com.

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