GME
GameStop Corp
Q4 2024 Report
GameStop Corp (GME) Q4 2024 Financial Results: Strong Recovery Fuels Optimism...
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Executive Summary
In the third quarter of 2023, GameStop Corp (GME) reported revenues of $1.078 billion, reflecting a year-over-year decline of 9.11% and a quarterly decrease of 7.35%. The company continues to navigate a challenging retail environment characterized by shifting consumer preferences and competitive pressures. Despite a slight increase in gross profit margin to 26.1%, the company's operating results revealed a net loss of $3.1 million, representing a substantial improvement year-over-year but also a 10.71% decline from the previous quarter. Management emphasized their focus on restructuring and digital transformation efforts aimed at reversing the recent downward trend in sales and margins. This quarter's results underline GameStop's ongoing challenges in balancing traditional retail dynamics with the need for innovative strategies in a rapidly evolving market.
Key Performance Indicators
Revenue
1.08B
QoQ: -7.35% | YoY:-9.11%
Gross Profit
281.80M
26.10% margin
QoQ: -7.88% | YoY:-3.36%
Operating Income
-14.70M
QoQ: 11.45% | YoY:84.74%
Net Income
-3.10M
QoQ: -10.71% | YoY:96.73%
EPS
-0.01
QoQ: -10.87% | YoY:96.71%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: $1.078 billion (YoY decline of 9.11%, QoQ decline of 7.35%)
- **Gross Profit**: $281.8 million with a gross margin of 26.1% (slight decrease from previous quarter)
- **Net Income**: -$3.1 million (improved YoY but decreased from $2.8 million net loss last quarter)
- **EPS**: -$0.0102, improved from last year's Q3 but worse than Q2 2023 results.
- **Cash at end of period**: $909 million, with total assets of $3.15 billion and a lower total liabilities ratio of approximately 60%.