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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
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.

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