GameStop's shares dropped 3.8% due to weaker-than-expected earnings, with a 28.7% revenue decline.
GameStop's shares dropped 3.8% after a weaker-than-expected earnings report, with net margin at 0.51% and return on equity at 1.78%. The company's revenue fell 28.7% compared to the previous year, at $881.8 million. Despite some analyst upgrades, GameStop's shares have lost 56% since the May 14 meme-driven rally. The company's CEO, Ryan Cohen, has a $4 billion cash reserve, raising speculation about potential acquisitions or strategic shifts.
June 10, 2024
9 Articles