June 22, 2024

Brighton Journal

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GameStop (GME) Q1 earnings

GameStop (GME) Q1 earnings

Traders walk on the floor during morning trading at the New York Stock Exchange (NYSE) on May 14, 2024 in New York City.

Spencer Platt | Getty Images

GameStop, the video game retailer currently riding another wave of trading enthusiasm spurred by the “Roaring Kitty” meme merchant, showed no signs of an operational turnaround in its dismal first-quarter results.

The video game retailer on Friday reported net sales of $881.8 million for the period. This represents a 29% decrease from $1.237 billion the previous year. The sales decline was sharper than the two Wall Street analysts covering the stock had expected. Their estimates ranged from $900 million to $1.09 billion, per FactSet.

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