GameStop Reports 25% Rise in Q1 Revenue

GameStop Reports 25% Rise in Q1 Revenue

Videogame retailer GameStop (GME) reported strong Fiscal 2021 first-quarter results on June 9.

Revenue rose 25.1% year-over-year to $1.3 billion and beat consensus estimates of $1.2 billion. Management noted that sales increased even though the company operated fewer stores in the quarter. GameStop stores continued to be closed across Europe because of the COVID-19 pandemic. 

The adjusted loss of $0.45 per share improved from a loss of $2.44 per share a year ago and beat consensus expectations for a loss of $0.83 per share.