GameStop prelim Q1: net loss narrows to $27-37M; sales drop ~29% to $872-892M

GameStop Corp.

2024-Q1 EPS reported -$0.11 revenue$881,800,000

Net loss expected $27-37M vs $50.5M loss in prior-year Q1.
Net sales $0.872-0.892B, down from $1.237B YoY.
SG&A expenses $290-300M, down from $345.7M YoY.
Cash and marketable securities $1.073-1.093B vs $1.310B at prior year-end.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GameStop Corp. reported first quarter ended May 4, 2024 results: revenue $0.872 billion to $0.892 billion, net income $27 million to $37 million net loss.

Period: first quarter ended May 4, 2024
Revenue: $0.872 billion to $0.892 billion
Net income: $27 million to $37 million net loss
Result: preliminary results

Exact text from the filing

On a preliminary basis for the 13-weeks ended May 4, 2024 compared to the 13-weeks ended April 29, 2023: • Net sales are expected to be in the range of $0.872 billion to $0.892 billion compared to $1.237 billion in the prior year fiscal quarter. • Selling, general and administrative (“SG&A”) expenses are expected to be in the range of $290 million to $300 million, compared to $345.7 million in the prior year fiscal quarter. • Net loss is expected to be in the range of $27 million to $37 million, compared to a net loss of $50.5 million in the prior year fiscal quarter.

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Source: SEC EDGAR

accession 0001193125-24-141183

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