Published , by Donovan Erskine
Published , by Donovan Erskine
Today, GameStop (GME) shared its earnings report for Q4 2022. Most notably, the company revealed that it beat on both revenue and EPS expectations. The company’s profitability was a pleasant surprise to shareholders, and GameStop had even more encouraging news on its subsequent earnings call. GameStop CEO Matt Furlong stated during the call that the company has “A path to full-year profitability” as it heads into a new fiscal year.
GameStop’s (GME) Q4 2022 earnings call was held earlier today, after the publishing of its earnings report for the quarter. It was brief call, but CEO Matt Furlong had some fascinating things to say about the future of GameStop’s business. “GameStop is a much healthier business today than it was at the start of 2021. We have considerable cash on hand, negligible debt, streamlined inventory, and a path to full-year profitability.”
GameStop also neglected to provide guidance for the upcoming quarter and fiscal year. Furlong said that this is because the company prefers that its shareholders make decisions based on its performance, rather than its words or predictions. Despite reporting a loss on the fiscal year 2022, GameStop leadership feels that the company is in a great position to really turn things around in 2023.
GameStop (GME) stock was up following the release of its earnings report, and numbers continued to climb after its earnings call. The stock was valued at $17.65 at the close of markets, and reached as high as $26.40 in after-hours trading.
As GameStop (GME) heads into the first quarter of the new fiscal year, we’ll be watching to see how the company aims to achieve full-year profitability after reporting a loss for 2022. For everything in the world of GameStop, Shacknews has the information you need.