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HomeMarketGME Earnings: GameStop studies web loss for Q1 2024; gross sales fall...

GME Earnings: GameStop studies web loss for Q1 2024; gross sales fall 29% | AlphaStreet

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GameStop Corp. (NYSE: GME) Friday reported a web loss for the primary quarter of 2024 when the online game firm’s gross sales declined sharply.

The corporate posted a web lack of $32.3 million or $0.11 per share for the April quarter, in comparison with a lack of $50.5 million or $0.17 per share in the identical interval final yr. On an adjusted foundation, the loss per share was $0.12 in Q1, in comparison with a lack of $0.14 per share within the year-ago quarter.

The underside line was negatively impacted by a 29% fall in web gross sales to $881.8 million through the three months. Money, money equivalents, and marketable securities had been $1.08 billion on the shut of the quarter.

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