GameStop Corp. (NYSE: GME) reported a narrower web loss for the third quarter of 2022 regardless of the gaming firm’s gross sales lowering year-over-year.
The corporate reported a web lack of $94.7 million or $0.31 per share for the newest quarter, on a reported foundation, in comparison with a lack of $105.4 million or $0.35 per share in the identical interval of final yr. The adjusted loss was $0.31 per share, in comparison with a lack of $0.35 per share within the prior-year quarter. Nonetheless, the newest quantity missed estimates.
At $1.19 billion, third-quarter web gross sales had been down 9% from the year-ago interval. The highest line additionally fell in need of analysts’ estimates.
Examine this area to learn administration/analysts’ feedback on GameStop’s Q3 2022 earnings
Gross sales attributable to new and expanded model relationships had been robust within the quarter. Gross sales within the collectibles class additionally remained robust on a year-to-date foundation.