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GME Earnings Beat Estimates but Still Lost
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💡Summary: • $GameStop (GME.US)$exceeded Wall Street estimates with its top and bottom line second quarter results. • EPS was -0.17%, up year Show More
💡Summary:
• $GameStop (GME.US)$exceeded Wall Street estimates with its top and bottom line second quarter results.
• EPS was -0.17%, up year over year.
• Game Stop reported its revenue rose about 2% to $1.16 billion.

The earnings report rose above the $1.14 billion wall street estimated. The Texas-based company attributed the rise in revenue to "significant software release" along with increased sales of new gaming hardware in several international segments.
Software and collectibles sales made about 49% of total revenue, while the remaining half was made of flat hardware sales. However, software sales rose 25%, offset by a 24% decline in collectibles.
With efficient cost-cutting efforts, Game Stop reduced its selling, general, and administrative expenses to $322.5 million, making 27.7% of net sales while during last year’s comparable quarter, these expenses amounted to $387.5 million, making up about 34.1% of net sales. But Game Stop also had transition costs $4.3 million from its store closures in Europe

🎙️Q:
1. Is GME a buy despite earnings?

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