GameStop (GME) Misses Q2 EPS, Sales Beat

GameStop (NYSE: GME) reported Q2 adjusted EPS of ($0.76), $0.10 worse than the analyst estimate of ($0.66). Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.12 billion.

• Generated net sales of $1.183 billion, compared to $942 million in the prior year’s second quarter.
• Ended the period with cash and restricted cash of $1.78 billion.
• Ended the period with no long-term debt, other than a $47.5 million low-interest loan associated with the French government’s pandemic response.
• Invested in long-term growth initiatives that include expanding the Company’s product catalog, enhancing its fulfillment network capabilities and technology, and adding talent across the organization.
• Entered into a lease of a new 530,000 square foot fulfillment center in Reno, Nevada, positioning the Company’s fulfillment network to span both coasts of the continental U.S.
• Entered into a lease of a new customer care center in Pembroke Pines, Florida and started building out U.S.-based customer care operations

For earnings history and earnings-related data on GameStop (GME) click here.

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