GameStop Corp. Q2 Profit Climbs

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(RTTNews) - GameStop Corp. (GME) announced earnings for its second quarter that Increases, from last year

The company's earnings totaled $298.7 million, or $0.51 per share. This compares with $168.6 million, or $0.31 per share, last year.

Excluding items, GameStop Corp. reported adjusted earnings of $161.1 million or $0.27 per share for the period.

The company's revenue for the period fell 18.7% to $790.2 million from $972.2 million last year.

GameStop Corp. earnings at a glance (GAAP) :

-Earnings: $298.7 Mln. vs. $168.6 Mln. last year. -EPS: $0.51 vs. $0.31 last year. -Revenue: $790.2 Mln vs. $972.2 Mln last year.

For the second quarter, the company posted net sales of $790.2 million, less than $972.2 million in the prior year's second quarter. The decrease primarily reflects the prior-year launch of Nintendo Switch 2, planned store closures, and the divestiture of the company's France operations.

Looking ahead, for the full year, GameStop now expects adjusted EBITDA of over $650 million, compared with the earlier guidance of over $600 million.

GME was up by 1.46% at $19.45 in the pre-market trade on the New York Stock Exchange.