Earnings

December 8, 2021

$GME Earnings 🚀 🎮

Everyone’s favorite GameStop reported earnings today. 🚀 The company posted wider losses and better-than-expected revenue. 

$GME posted GAAP EPS of -$1.39 (analysts anticipated -$0.58) and revenue of $1.3 billion, +30% YoY. Revenue beat analysts’ expectations by $110 million. Net sales also got a boost to $1.297 billion during the quarter, compared to $1.005 billion in Q3 2020.

GameStop shared that its inventory reached $1.141 billion compared to $861 million in Q3 2020 as the company hopes to offset supply issues during a period of higher customer demand. $GME also reported on a new $46.2 million term loan related to the French government’s pandemic response. 💰💰

In other exciting news, GameStop announced the opening of two new offices in Seattle and Boston to attract local tech talent and the company’s exploration of “emerging opportunities” related to web3, blockchain, and NFTs.

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