TELETRADER News
6/7, 10:18 PM
(Source: TeleTrader)
GameStop+1.00%
GameStop's net sales down 10% to $1.24B in Q1
GameStop Corporation announced on Wednesday that its net sales in the opening quarter of 2023 amounted to $1.24 billion, falling by 10% compared to the same period a year earlier.
The company revaled its net loss shrank from the corresponding quarter in 2022, to arrive at $50.5 million in the trimester ending April 30 this year, which translates to $0.17 diluted loss per share. "Transition costs related to European restructuring efforts were $14.5 million for the period. For the second quarter, the Company will continue to incur transition charges," the statement disclosed.
The company's stock plunged 18% in the after-hours trading following the announcement that Matthew Furlong was ousted as its chief executive officer.