GME Q1 2024 Earnings Review & Summary - MUST WATCH! Gamestop Q1 Earnings. On June 7th in pre-market GameStop Corp. (NYSE: GME) released financial results for the first quarter ended May 4, 2024. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below.
FIRST QUARTER OVERVIEW
*) Net sales were $0.882 billion for the first quarter, compared to $1.237 billion in the prior year's first quarter.
*) Selling, general and administrative (“SG&A") expenses were $295.1 million, or 33.5% of net sales for the first quarter, compared to $345.7 million, or 27.9% of net sales, in the prior year's first quarter.
*) Net loss was $32.3 million for the first quarter, compared to a net loss of $50.5 million for the prior year’s first quarter.
*) Cash, cash equivalents and marketable securities were $1.083 billion at the close of the quarter.
*) Long-term debt remains limited to a low-interest, unsecured term loan associated with the French government’s response to COVID-19. #TonyDenaro #GME #Gamestop
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