GameStop Corp GME reported financial results for the first quarter of fiscal 2025 after the market close on Tuesday. Here’s a rundown of the video game retailer’s report.
Q1 Earnings: GameStop reported first-quarter revenue of $732.4 million, missing analyst estimates of $754.24 million. The company reported first-quarter adjusted earnings of 17 cents per share, beating analyst estimates of four cents per share, according to Benzinga Pro.
Total revenue was down about 17% on a year-over-year basis. Here’s a breakdown of revenue by category:
- Hardware and Accessories revenue: $345.3 million
- Software revenue: $175.6 million
- Collectibles revenue: $211.5 million
Collectibles revenue was the only segment that experienced growth on a year-over-year basis.
GameStop ended the period with approximately $6.4 billion in cash, cash equivalents and marketable securities.
In the company’s fourth-quarter earnings release, GameStop announced that its board unanimously approved an update to its investment strategy to add Bitcoin BTC/USD as a treasury reserve asset. Subsequent to the quarter’s end, the company said it purchased 4,710 Bitcoin between May 3 and June 10 using cash.
GameStop did not schedule a conference call to discuss its quarterly results. The company has not held a call with investors and analysts in several quarters.
GME Price Action: GameStop shares were down approximately 3% year-to-date heading into Tuesday’s print. The stock was down 5.80% in after-hours, trading at $28.40 at the time of publication Tuesday, per Benzinga Pro.
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Photo: Jillian Cain Photography/Shutterstock.
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