GameStop beats quarterly revenue estimates on strong videogame demand

GameStop beats Wall Street estimates for quarterly revenue and posts a smaller-than-expected loss, driven by strong demand for videogames, collectibles, and consoles, with sales of software and collectibles contributing to about 49% of total revenue in the second quarter.

reuters.com

Relevant topic timeline:

8/21/2023

3 takeaways on the state of the global games market (hint: it's growing)

The global video game industry is expected to generate nearly $188 billion in revenue in 2023, with console sales driving the biggest revenue growth, and an increase in younger gamers contributing to the industry's growth; meanwhile, mobile game growth is expected to slow due to privacy-related challenges faced by developers.

8/28/2023

Lessons for next time after Nvidia's stock didn't surge, and options tanked

Nvidia's earnings beat Wall Street estimates by 29.7%, but investors were not rewarded as the stock price declined, highlighting the difficulty of making money from actual events.

9/6/2023

Stocks making the biggest moves after hours: GameStop, American Eagle Outfitters and more

GameStop's sales increased in the second quarter, causing its stock to surge, while American Eagle Outfitters met revenue estimates but saw a decline in stock, C3.ai forecasted a larger operating loss, ChargePoint reported a revenue miss and announced job cuts, Verint Systems missed on earnings and revenue, and Dutch Bros experienced a stock decline after announcing a public offering.

9/19/2023

Microsoft Eyes Doubling Gaming Revenue to $36B by 2030, Driven by New Console, Mobile and Ads

Microsoft executives forecasted growth in gaming revenue driven by advertising and mobile purchases, as revealed in a mistakenly published court document related to their battle against the Federal Trade Commission over the Activision Blizzard acquisition. They projected gaming revenue to double to $36 billion in fiscal 2030, with advertising revenue expected to rise to $1.4 billion and mobile transactions revenue estimated to reach $2.6 billion by that year.

Topics

Posted 9/6/2023, 8:47:00 PM