Published , by TJ Denzer
Published , by TJ Denzer
GameStop is out with its earnings results for its fiscal Q3 2023, and it has announced it will not be holding an accompanying conference call to discuss the results. This marks the third quarter in a row that GameStop has skipped the conference call with its earnings results. It also hasn’t had an earnings results call since the company appointed Ryan Cohen as Executive Chairman.
GameStop announced its skipping of the Q3 2023 earnings results conference call in the press release for this quarter’s fiscal results. In the results, GameStop states plainly that there will be no call. This comes on top of the fact that GameStop missed revenue estimates for Q3 2023, coming in short of the $1.2 billion USD estimates by Wall Street analysts.
It's also worth noting that GameStop hasn't had a conference call at all in a tumultuous fiscal year that started with the company firing former CEO Matt Furlong and appointing majority investor Ryan Cohen as its Executive Chairman. GameStop has attempted over a long period of time to make use of the stock boom in early 2021 and reinvent its business, investing far heavier into e-commerce infrastructure to boost online sales and order delivery. Unfortunately, some of its bets have not paid off, such as the cryptocurrency-specialized GameStop Wallet.
With Cohen’s guidance, GameStop continues to try to firm up its footing as it transitions to new business ventures, but it looks like we’re not going to get insight into those transformations via earnings conference call anytime soon. Stay tuned as we continue to report on GameStop, GME, and other companies posting their earnings results.