Published , by Donovan Erskine
Published , by Donovan Erskine
GameStop (GME) has released its Q3 2022 earnings report, chronicling its financial performance for the past few months. We get specific sales figures in the report, but they likely aren’t as great as shareholders may have been hoping for. GameStop has reported results that miss on both earnings per share and revenue expectations.
The GameStop (GME) Q3 2022 earnings report was shared on the company’s investor relations page on December 7, 2022. The company brought in $1.186 billion in sales in Q3. This is not only a slight decrease from last year’s $1.297 billion, but it also comes in below analyst expectations. The company also reported a loss of $.31 per share. This fails to meet whisper expectations.
Interestingly enough, GameStop (GME) stock wasn’t very busy in after-hours trading. While there is a deep history of the stock moving aggressively in either direction after the release of an earnings report, GME plateaued at around $22.35 in after-hours trading. That said, the stock was on a steady decline in the half-hour leading up to the close of markets.
GameStop attributes a large portion of its sales this past quarter to collectibles, which continues to be a major aspect of the retailer’s business. Prior to the release of the earnings report, we speculated what it could look like in an article outlining our own expectations earlier today. In under an hour, GameStop will take to a webcast for its quarterly earnings call. For more on GameStop (GME), Shacknews has everything you need to know.