GameStop stock falls on worse-than-expected quarterly loss, revenue decline

GameStop Corp. reported third-quarter results that missed analysts’ estimates as well as a revenue decline after the market close on Wednesday.

Analysts surveyed by FactSet expected GameStop GME, -4.83% to report an adjusted loss of 28 cents a share on sales of $1.345 billion. Inventory was $1.131 billion at the end of the quarter, compared with $1.141 billion at the end of the prior year’s third quarter. The company also ended the quarter with $1.042 in cash, cash equivalents and marketable securities. GameStop’s long-term debt remains limited to a low-interest, unsecured term loan associated with the French government’s response to COVID-19, the company said.

GameStop, like its fellow meme stock AMC Entertainment Holdings Inc. AMC, -10.37% , was a major beneficiary of the meme-stock buying frenzy in January 2021, which sent the struggling company’s shares skyrocketing to dizzying heights. Between January and March 2021, GameStop’s stock price rose more than 1,200% and the company’s market cap surpassed $17 billion. The company’s market cap is now around $7.1 billion.

Free cash flow positive. Profitability coming soon.

A 105.4 billion dollar loss and still had cash at hand. Even elonmusk can´t burn cash at that level... You pull these numbers out your ... ? GME earnings GameStop GameStopNFT

No mention of the positive cash flow GameStop reported for the quarter, oh and the fact they have no debt! Just the negatives to push a negative narrative for Shorts, gotcha!

Gme is up over 5% in after hours. Market watch is always quick to talk down/dismiss meme stocks. Big shorts must be in big trouble! Glad I bought this dip

to the moon!

I have nothing else to lose

All they have done is lose money since 2018 completely garbage 🗑️🚮 $gme I wrote this weeks ago

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