GameStop continues to be one of the more interesting gaming and tech companies in investment news, and this week it reported its Q2 2023 earnings results. The company put out its official press release on the earnings results and reported that it was not only able to beat Wall Street revenue estimates, but it was also able to put up less losses in earnings-per-share (EPS) than anyone’s estimations.
GameStop reported its Q2 2023 earnings results on its investor relations website on September 6, 2023. In terms of revenue, the company was able to put up a revenue of $1.16 billion USD. This was higher than the Wall Street expectations, which called for $1.1 billion. Meanwhile, over in the EPS metric, GameStop was able to keep its losses to $0.03 per share. That was less losses than the $0.14 loss per share expected by Wall Street and the $0.17 loss per share Whisper Number expectation. All in all, GameStop seemed to be able to turn in a satisfactory quarter in comparison to estimates.
GameStop has been in a tumultuous state throughout 2023. The company started the year on a “path to full-year profitability,” but then fired former CEO Matt Furlong in June 2023, making Ryan Cohen Executive Chairman of the company. Since then, the company has also shut down its GameStop Wallet platform, citing uncertainty in the crypto marketplace. The company has managed to survive for much of another year, but its ventures have been hit-or-miss to say the least.
Nonetheless, Q2 2023 ended on a good note for GameStop with wins in its major metrics. As we watch to see what happens next with GameStop, GME, and further tech and gaming investment news, stay tuned to Shacknews for further updates.