GameStop Corp (NYSE:GME) reported financial results for the fourth quarter Tuesday after the close. Here’s a rundown of the video game retailer’s report.
- GameStop stock is trading near recent lows. What’s the outlook for GME shares?
GameStop Reports Mixed Q4 Results
GameStop reported fourth-quarter revenue of $1.10 billion, missing analyst estimates of $1.47 billion. The company reported adjusted earnings of 49 cents per share for the quarter, beating analyst estimates of 37 cents per share, according to Benzinga Pro.
Total revenue was down about 14% on a year-over-year basis. Here’s a breakdown of revenue by category:
- Hardware and Accessories: $535.6 million, down from $725.8 million year-over-year
- Software: $203.7 million, down from $286.2 million year-over-year
- Collectibles: $365 million, up from $270.6 million year-over-year
GameStop generated operating income of $135.2 million in the quarter versus $79.8 million in the comparable quarter last year.
GameStop said it ended the period with approximately $9 billion in cash, cash equivalents and marketable securities. GameStop also had Bitcoin (CRYPTO: BTC) holdings valued at $368.4 million at quarter's end.
GameStop didn't schedule a fourth-quarter earnings call. The company has not held a conference call to discuss its quarterly financial results since early 2023.
GameStop Shares Rise After The Bell
GME Price Action: GameStop shares were up 0.88% in after-hours Tuesday, trading at $23.01 at the time of publication, according to Benzinga Pro.
Image: Shutterstock.com
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