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GameStop Third Quarter 2023 Earnings: Misses Expectations

GameStop (NYSE:GME) Third Quarter 2023 Results

Key Financial Results

  • Revenue: US$1.19b (down 8.5% from 3Q 2022).

  • Net loss: US$94.7m (loss narrowed by 10% from 3Q 2022).

  • US$0.31 loss per share (improved from US$0.35 loss in 3Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

GameStop Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 6.9%.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Specialty Retail industry in the US.

Performance of the American Specialty Retail industry.

The company's shares are down 6.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for GameStop that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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