GameStop's Earnings

Retailer shook Wall Street, proving small investors' impact goes beyond big finance expectations.

Original meme-stock favorite posted a $3.1M loss, improving from $94.7M loss in the previous year's quarter.

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GameStop surprised analysts, breaking even per share instead of the expected 8-cent loss, showing a stronger financial performance.

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GameStop's revenue was $1.078 billion, down from $1.186 billion last year, falling short of analysts' expected $1.182 billion.

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GameStop reported sales fell in the U.S. (13.3%), Canada (9.7%), and Australia (16.8%), but Europe saw a boost (12.8%) due to improved supply.

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At quarter-end, the company held $1.210 billion in cash, up from $1.195 billion in the previous quarter.

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GameStop, with "thousands of stores," cut costs by $5.8 million this year, mainly due to closing stores, especially in Europe.

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GameStop shares dropped by almost 20% in 2023, while the S&P 500 gained 18.5%—a tough year for the meme-fueled rally.

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