GameStop Q1 EPS Miss Estimates, Revenue Beats and Inventory Rises
2022.06.02 00:10
GameStop Q1 EPS Miss Estimates, Revenue Beats and Inventory Rises
By Davit Kirakosyan
GameStop (NYSE:GME) reported its Q1 results, with EPS of ($2.08) coming in worse than the consensus of ($1.45), while revenue of $1.38 billion beat the consensus of $1.32 billion and was up from $1.277 billion last year.
Sales growth was attributable to new and expanded brand relationships.
Inventory rose to $917.6 million at the close of Q1 (vs. $570.9 million at the close of Q1/21) reflecting an ongoing focus on improving in-stock levels in merchandise to meet increased customer demand and offset supply chain headwinds.
The company ended the quarter with $1.035 billion in cash and cash equivalents and no debt other than a low-interest, unsecured term loan associated with the French government’s response to COVID-19.
