Summary by Moomoo AI
GameStop Corp. reported Q3 2024 financial results, with net sales of $860.3 million, down from $1,078.3 million in Q3 2023. The company posted a net income of $17.4 million, compared to a net loss of $3.1 million in the prior year's quarter. Cash, cash equivalents, and marketable securities stood at $4.616 billion at quarter-end.GameStop completed its previously announced at-the-market equity offering, raising approximately $400 million by selling 20 million shares. The company does not plan further at-the-market offerings in the current fiscal year.In a significant change, GameStop's Audit Committee selected KPMG LLP as its new independent registered public accounting firm for the fiscal year ending January 31, 2026, replacing Deloitte & Touche LLP. This decision followed a competitive proposal process and will take effect after Deloitte completes its audit for the fiscal year ending February 1, 2025.