GameStop Corp. - GME STOCK NEWS

GameStop Corp. (NYSE: GME) has announced the release date for its second quarter fiscal 2024 results. The company will report its financial performance after the market closes on Tuesday, September 10, 2024. This announcement is a standard practice for publicly traded companies, providing investors and analysts with a specific date to anticipate the release of important financial information. The results will likely include key metrics such as revenue, earnings per share, and potentially guidance for future quarters. Investors and market watchers will be keen to analyze these results to gauge GameStop's performance and future prospects in the evolving gaming and retail landscape.

GameStop Corp. (NYSE: GME) announced a rescheduling of its virtual annual meeting of stockholders. Initially planned for June 13, 2024, at 10:00 a.m. CDT, the meeting was adjourned due to technical difficulties with the third-party hosting site. The new meeting time is set for June 17, 2024, at 11:30 a.m. CDT and can be accessed at meetnow.global/MT244SG.

GameStop (NYSE: GME) announced the completion of its at-the-market (ATM) equity offering program, initially disclosed on June 7, 2024. The company sold the maximum 75,000,000 shares, garnering approximately $2.137 billion in gross proceeds. The funds will be utilized for general corporate purposes, including potential acquisitions and investments. This development follows the filing of a prospectus supplement with the U.S Securities and Exchange Commission.

GameStop (NYSE: GME) announced its financial results for Q1 2024, ending May 4, 2024. The company reported net sales of $0.882 billion, down from $1.237 billion in Q1 2023. SG&A expenses were $295.1 million, representing 33.5% of net sales, compared to $345.7 million (27.9%) the previous year. The net loss for Q1 2024 was $32.3 million, an improvement from the $50.5 million loss in Q1 2023. Cash and equivalents were $1.083 billion at quarter-end. GameStop’s long-term debt remains minimal, tied to a low-interest French COVID-19 response loan. No conference call will be held. The company uses non-GAAP measures, excluding certain transformation costs and other adjustments, providing additional insights into core performance. Investors are cautioned that these measures should supplement GAAP results.

GameStop (NYSE: GME) has announced that it will release its first quarter fiscal 2024 results on June 11, 2024, after the market closes.

The release will provide insights into the company's financial performance during the first quarter of the fiscal year 2024.

GameStop Corp. (NYSE: GME) announced the completion of its 'at-the-market' equity offering program. Initially disclosed on May 17, 2024, the company filed a prospectus supplement with the SEC to offer and sell up to 45 million shares of common stock. The maximum number of shares was sold, resulting in gross proceeds of approximately $933.4 million before commissions and expenses. GameStop plans to use the net proceeds for general corporate purposes, including acquisitions and investments.

GameStop announced preliminary unaudited financial results for Q1 ending May 4, 2024. The company projects net sales between $0.872 billion and $0.892 billion, a decline from $1.237 billion in Q1 2023. SG&A expenses are expected to range between $290 million and $300 million, down from $345.7 million the previous year. The net loss is forecasted between $27 million and $37 million, improving from a $50.5 million loss in Q1 2023. Cash, cash equivalents, and marketable securities are projected between $1.073 billion and $1.093 billion, compared to $1.310 billion a year earlier.