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  • 10 hours ago
GameStop beat earnings estimates but missed revenue expectations as sales declined year over year.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02GameStop reported adjusted earnings of 49 cents per share on revenue of $1.10 billion,
00:08beating analyst estimates of 37 cents per share, but missing revenue expectations of $1.47 billion.
00:15Total revenue fell about 14% year-over-year, according to Benzinga.
00:20Hardware and accessories revenue declined to $535.6 million from $725.8 million,
00:26and software revenue fell to $203.7 million from $286.2 million.
00:33Collectibles revenue rose to $365 million from $270.6 million.
00:39Operating income increased to $135.2 million from $79.8 million.
00:46The company ended the quarter with about $9 billion in cash, cash equivalents, and marketable securities.
00:52The video game chain held $368.4 million in Bitcoin.
00:57Shares were down by 0.52% at $22.91 in Wednesday's pre-market trading, according to Benzinga Pro.
01:05For all things money, visit Benzinga.com.
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