GameStop reports $158 million loss and decline in hardware sales

GameStop reports 8 million loss and decline in hardware sales


A GameStop location in New York, Dec. 23, 2021.

Scott Mlyn | CNBC

GameStop reported $1.38 billion in revenue in its fiscal first-quarter earnings report Wednesday, up slightly from the $1.27 billion it reported in the year-ago quarter.

But, it also reported a $157.9 million net loss, which is worse than the $66 million net loss in the year-ago quarter.

Here are the key numbers:

  • Loss per share: $2.08, not comparable to estimates
  • Revenue: $1.38 billion

Shares fluctuated between slightly positive and slightly negative in after-hours trading.

GameStop generated $673.8 million in sales of hardware like game consoles and accessories, which amounted to 48.9% of all sales. That was down from $703.5 million in the year-ago quarter. It made $483.7 million on software, up from $397.9 million in the year-ago quarter, and $220.9 million on collectibles, up from $175.4 million in Q1 2021.

The company’s strength in collectibles this quarter compared to the previous year’s quarter may indicate why it’s leaning into non-fungible tokens (NFTs), which have become a new type of digital souvenir that users can collect and resell. NFTs are digital items or artwork that are tied to the blockchain so the original version can be authenticated.

The company has said it plans to launch an NFT marketplace by the end of the current quarter and it reiterated in Wednesday’s release its expected timeline. GameStop said it’s taken steps to support the recent launch of a digital asset wallet that will allow users to send a receive the tokens.

The company has not provided a financial outlook since the start of the pandemic. CEO Matt Furlong said in March that GameStop doesn’t “feel it’s prudent to provide guidance during the early stages of our transformation and with the current global backdrop.”

This story is developing. Check back for updates.

Subscribe to CNBC on YouTube.

WATCH: Why retail investors are drawn to this risky investment strategy



Source

California Gov. Gavin Newsom sues Fox News for 7 million, alleging defamation
World

California Gov. Gavin Newsom sues Fox News for $787 million, alleging defamation

Gov. Gavin Newsom speaks during an address on Tuesday, June 10, 2025. Office of California Governor via AP California Gov. Gavin Newsom sued Fox News on Friday, seeking damages of at least $787 million from the conservative network for allegedly defaming him in its reporting of a phone call he had with President Donald Trump. […]

Read More
Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows
World

Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows

People shop at a store in Manhattan on April 30, 2025 in New York City. Spencer Platt | Getty Images Prices that consumers pay rose slightly in May, while the annual inflation rate moved further away from the Federal Reserve’s target, according to a Commerce Department report Friday. The personal consumption expenditures price index, the […]

Read More
Chinese battery giant and Tesla supplier CATL is expanding globally: Here’s why it matters
World

Chinese battery giant and Tesla supplier CATL is expanding globally: Here’s why it matters

Aerial view of the headquarters of Contemporary Amperex Technology Co., Limited (CATL) on February 6, 2025 in Ningde, Fujian Province of China. Vcg | Visual China Group | Getty Images The world’s largest electric vehicle (EV) is going all-in on international expansion and could shake up the EV market in the process with its battery-swapping […]

Read More