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GameStop (GME) reports profits for full year 2023

GameStop's adjusted EBITDA for FY2023 was $64.7 million, which was at least a profit compared to losses in the same stat for FY2022.

TJ Denzer

March 26, 2024 1:48 PM

Image via Tannen Maury/Shutterstock

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GameStop (GME) has posted its Q4 2023 earnings results, as well as its full year results for the fiscal year of 2023. It wasn’t exactly good news for the gaming retailer, though. GameStop posted misses on revenue and earnings-per-share (EPS) for Q4. That said, at least its full-year profit performed better than the previous year by a wide margin. When all was said and done, GameStop reported its adjusted EBITDA for FY2023 ended up at $64.7 million. That was quite a stretch up from the losses posted for FY2022.

GameStop reported its full-year profits for FY2023 in its Q4 2023 earnings posted on its investor relations website this week. The company couldn’t put up a win on its Q4 results, falling short of expectations in both revenue and EPS. It wasn’t all bad news though. GameStop posted a profit for its full-year results in 2023 in which the company posted an adjusted EBITDA of $64.7 million. That was vastly up from the losses of $192.7 million suffered by the company in its 2022 fiscal year.

Some additional color for GameStop’s FY2023 stats included net sales, which settled at $5.273 billion, slightly down from the $5.927 billion in FY2022. Elsewhere, SG&A expenses were $1.324 billion, compared to the $1.681 billion for 2022. In the end, GameStop’s net income for FY2023 came out to $6.7 million, which was massively up from the net loss of $313.1 million in 2022.

GameStop being profitable in its 2023 fiscal year isn’t a huge win considering the massive losses of the previous year being easy to overcome, but its full-year profits were at least one bright point for the company in its full-year results. Be sure to check out the Q4 2023 earnings results for more information and stats on the company’s health in the previous quarter and fiscal year.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.