{"id":32696,"date":"2022-06-01T22:03:01","date_gmt":"2022-06-01T22:03:01","guid":{"rendered":"https:\/\/harchi90.com\/gamestop-gme-earnings-q1-2022\/"},"modified":"2022-06-01T22:03:01","modified_gmt":"2022-06-01T22:03:01","slug":"gamestop-gme-earnings-q1-2022","status":"publish","type":"post","link":"https:\/\/harchi90.com\/gamestop-gme-earnings-q1-2022\/","title":{"rendered":"Gamestop (GME) earnings Q1 2022"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107007029\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>At GameStop location in New York, Dec. 23, 2021.<\/p>\n<p>Scott Mlyn |  CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>GameStop reported $ 1.38 billion in revenue in its fiscal first-quarter earnings report Wednesday, up slightly from the $ 1.27 billion it reported in the year-ago quarter. <\/p>\n<p>But, it also reported a $ 157.9 million net loss, which is worse than the $ 66 million net loss in the year-ago quarter.<\/p>\n<p>Shares fluctuated between slightly positive and slightly negative in after-hours trading.<\/p>\n<p>Here are the key numbers:<\/p>\n<ul>\n<li><strong>Loss per share:<\/strong> $ 2.08, not comparable to estimates<\/li>\n<li><strong>Revenue:<\/strong> $ 1.38 billion<\/li>\n<\/ul>\n<p>GameStop generated $ 673.8 million in sales of hardware like game consoles and accessories, which amounted to 48.9% of all sales.  That was down from $ 703.5 million in the year-ago quarter.  It made $ 483.7 million on software, up from $ 397.9 million in the year-ago quarter, and $ 220.9 million on collectibles, up from $ 175.4 million in Q1 2021.<\/p>\n<p>The company&#8217;s strength in collectibles this quarter compared to the previous year&#8217;s quarter may indicate why it&#8217;s leaning into non-fungible tokens (NFTs), which have become a new type of digital souvenir that users can collect and resell.  NFTs are digital items or artwork that are tied to the blockchain so the original version can be authenticated. <\/p>\n<p>The company has said it plans to launch an NFT marketplace by the end of the current quarter and it reiterated in Wednesday&#8217;s release its expected timeline.  GameStop said it&#8217;s taken steps to support the recent launch of a digital asset wallet that will allow users to send a receive the tokens.<\/p>\n<p>The company has not provided a financial outlook since the start of the pandemic.  CEO Matt Furlong said in March that GameStop doesn&#8217;t &#8220;feel it&#8217;s prudent to provide guidance during the early stages of our transformation and with the current global backdrop.&#8221;<\/p>\n<p>On the company&#8217;s earnings call Wednesday, Furlong still did not provide guidance and did not take analyst questions.  He said the company continues to focus on embracing change and &#8220;long-term stockholder value&#8221; through investing in commerce and seeking growth opportunities in NFTs and other emerging technologies.<\/p>\n<p><em><strong>Subscribe to CNBC on YouTube.<\/strong><\/em><\/p>\n<p>WATCH: Why retail investors are drawn to this risky investment strategy<\/p>\n<\/div>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At GameStop location in New York, Dec. 23, 2021. Scott Mlyn | CNBC GameStop reported $ 1.38 billion in revenue in its fiscal first-quarter earnings report Wednesday, up slightly from the $ 1.27 billion it reported in the year-ago quarter. But, it also reported a $ 157.9 million net loss, which is worse than the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/gamestop-gme-earnings-q1-2022\/\"> <span class=\"screen-reader-text\">Gamestop (GME) earnings Q1 2022<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[300,184,116,118,193,7916,130],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107007029-1643235897887-gamestop.jpg?v=1643235984&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/32696"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=32696"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/32696\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=32696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=32696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=32696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}