One of the most important financial and investment stories of the last couple of years has been the incredible rise of GameStop stock from the brink of bankruptcy into a business that can now sustain itself for the foreseeable future. It hasn’t all been success stories. Q4 2021 was a mixed bag of wins and losses for the company. However, rather than answer to listeners on its latest conference call, GameStop executives chose to forgo a Question-and-Answer section of the conference call today.
GameStop held its Q4 2021 conference call on its investor relations website on March 17, 2022. Following the release of its Q4 2021 earnings results, the company went live soon after to address and give further context to the numbers and announcements revealed in its latest reports. The recent earnings report shared wins when it came to revenue, but posted an unexpected loss when it came to earnings-per-share. As per the call, the company is still in a transformative process.
CEO Matt Furlong claimed that while the company had made solid moves to future-proof itself, such as getting into PC and gaming monitor sales, there was still a long way to go. This can also be seen in the announcement of the company’s NFT Marketplace, which is set to go live by the end of its 2022 fiscal year. GameStop was unable to even offer guidance as executives claimed that while going through this transformation, it wouldn’t be appropriate.
Nonetheless, not giving listeners the chance to chime in with concerns related to the company’s business, performance, and future plans could be seen as a concerning move. While GameStop has found its footing, there is no lack of investors out there wondering if the company can keep moving forward on the momentum unexpectedly given to it in 2021. That said, there’s little to be done about it but wait and see how the company continues to perform in its 2022 fiscal year. Stay tuned to the GameStop topic page for the latest on the company as we continue to watch for further details and updates.