• News

GameStop (GME) preannounces Q1 2024 earnings results revenue miss

Ahead of its official release of Q1 2024 earnings results, GameStop has released some early stats and announcements, including revenue metrics.

TJ Denzer

May 17, 2024 10:58 AM

Image via Getty Images

1

GameStop has announced early details of its Q1 2024 earnings results. Not quite the official and full release, these preliminary results share just a few key metrics and announcements slated for the main quarterly earnings results. They include details about the company’s revenue for Q1, which seems to have come in short against expectations.

GameStop officially released its preliminary Q1 2024 earnings results in a press release on its investor relations website this week. The company announced that its net sales for Q1 2024 are expected to be in the range of $0.872 billion and $0.892 billion. This was down from the $1.237 billion posted in GameStop’s Q1 2023 earnings results. However, it also came in underneath Wall Street expectations, which were estimating around the $1 billion mark for GameStop’s Q1 2024 results.

GameStop announced other important details in its Q1 2024 earnings results. The company is filing to sell 45 million additional shares of its common stock to the public, adding to the millions of shares of common stock already in circulation. However, GameStop also cautioned against racing to buy in its current offering, asking its investors to weigh their risks appropriately to avoid losses:

It would appear that GameStop is going out of its way to be transparent ahead of the actual Q1 2024 earnings results. We’ll see what else those results have for us when they drop in full, but one thing is for sure: GameStop remains one of the most interesting and volatile stocks to keep an eye on in the current market. Stay tuned for more financial reporting as news and updates drop.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.