$GME (+2.79%) | GameStop Q3 FY2024 Earnings Highlights:

🔹 EPS: $0.04 (Est. $0.00) 🟢

🔹 Revenue: $860.3M (Est. $887.7M) 🔴; -20% YoY

Segment:

Hardware & Accessories:

🔹 Net Sales: $417.4M (Est. $453.9M) ; -28% YoY

Software:

🔹 Net Sales: $271.8M (Est. $283.3M) 😕; -15% YoY

Collectibles:

🔹 Net Sales: $171.1M (Est. $150.5M) 😕; -3.7% YoY

Financial Metrics:

🔹 Gross Margin: 29.9% (vs 26.1% YoY) 

🔹 SG&A Expenses: $282.0M (Improved from $296.5M YoY)

🔹 Net Income: $17.4M (vs Loss of $3.1M YoY)

🔹 Operating Loss: $33.4M (vs $14.7M YoY)

Balance Sheet:

🔹 Cash & Marketable Securities: $4.62B (vs $1.21B YoY) 

🔹 No Debt Issued During the Quarter

Key Takeaways:

🔸 Hardware & Software Sales: Continued sharp declines in line with industry softness.

🔸 Collectibles Segment: Demonstrated resilience, outperforming estimates.

🔸 Gross Margin: Improved due to better cost management and product mix.

🔸 Completed $400M equity offering program.

Commentary:

🔸 All major segments reported YoY sales declines, led by a 28% drop in Hardware.

🔸 Collectibles beat estimates and showed the smallest YoY decline, supporting diversification strategy.

🔸 GameStop remains focused on preserving liquidity and cost efficiencies.

🔸 No conference call was held for further commentary.