GameStop Reports Fiscal Q1 2022 Financials: US$1.38 Billion In Revenue, US$157.9 Million Net Loss

GameStop Corp (NYSE: GME) reported on Wednesday its financial results for fiscal Q1 2022, highlighting a quarterly revenue of US$1.38 billion. The topline figure beats the consensus estimate of US$1.32 billion, but is a drop from Q4 2021’s US$2.25 billion and an increase from Q1 2021’s US$1.28 billion.

The gross margin for the quarter came in at 21.7%, up from last quarter’s 16.8% but down from last year’s 25.9%. Still with SG&A expenses higher than gross profit, the company ended with an operating loss of US$153.7 million compared to the losses of US$166.8 million and US$40.8 million last quarter and last year, respectively.

Source: Hypercharts

Consequently, this made the company end the quarter with a net loss of US$157.9 million, wider than the US$147.5 million net loss from the previous quarter and US$66.8 million net loss for the same comparable period last year. The quarterly loss translates to US$2.08 per share, which missed the estimate of US$1.45 loss per share.

Source: Hypecharts

Further, the firm’s adjusted EBITDA came in at a loss of US$125.5 million, marginally up from last quarter’s US$126.9 million loss but lower than last year’s US$0.7 million loss.

The company ended the quarter with US$1.32 billion in cash, cash equivalents, and restricted cash. This puts the balance of the current assets at US$2.33 billion while current liabilities ended at US$1.13 billion.

In April 2022, the company announced its plan to conduct a stock split, seeking permission to expand its share count from 300 million to 1.0 billion.

GameStop last traded at $121.40 on the NYSE.


Information for this briefing was found via Edgar and GameStop Corp. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

GameStop Reports 8.5% Drop in Revenue in Q3, with Substantial Adjusted EBITDA Loss; Valuation Remains Difficult to Understand

After the regular market close on December 7, GameStop Corp. (NYSE: GME) reported a second...

Sunday, December 11, 2022, 10:32:00 AM

AMC, GameStop Renewed Rallies Leave Short-Sellers Scrambling

It appears that retail investors have once again renewed the rally in meme stock favourites,...

Thursday, May 27, 2021, 02:22:00 PM

‘The Wolf of Wall Street’ Jordan Belfort Says Robinhood is ‘Toast’ Following GameStop Fiasco

The sudden decision by Robinhood to halt trading of several highly volatile stocks following the...

Tuesday, February 2, 2021, 03:56:00 PM

GameStop Rallies After Beating Estimates with Q2 2023 Results

GameStop Corp. (NYSE: GME) has defied Wall Street expectations by reporting robust quarterly revenue and...

Thursday, September 7, 2023, 10:17:33 AM

GameStop Shares Pop 48% On Surprise Q4 Profit, Prompting Frenzied Short Covering Rally

After the regular market close on March 21, GameStop Corp. (NYSE: GME) reported a surprise...

Wednesday, March 22, 2023, 07:33:00 AM