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GameStop Reports Fourth Quarter and Fiscal Year 2023 Results📰 News (news.gamestop.com)

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[–]Superstonk_QV📊 Gimme Votes 📊[M] [score hidden] stickied comment (2 children)

Why GME? || What is DRS? || Low karma apes feed the bot here || Superstonk Discord || Community Post: Open Forum Jan 2024

To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.

Please up- and downvote this comment to help us determine if this post deserves a place on r/Superstonk!

OP has provided the following link:

https://news.gamestop.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-year-2023-results

[–]5harkb1telet's go 🚀🚀🚀 2162 points2163 points  (29 children)

Full. Fucking. Year. Of. Profitability.

Fuck you Ken! This is what we’ve been waiting for.

[–]welp007🍌 Bananya Manya 🤙 510 points511 points  (6 children)

First time since 2018 too.

That’s what a Ryan Cohen turnaround looks like right there. 😎

Edit: and he’s been CEO for less than 6 months of that time.

Put that in your sophisticated ass glass of overpriced champagne n smoke it ya Kenneth Cordeleon BCG Grifter 🖕

[–]5harkb1telet's go 🚀🚀🚀 120 points121 points  (0 children)

Warren Icahn 😎

[–]RefrigeratorMean235 16 points17 points  (0 children)

Champagne is for the podium

[–]Zealousideal_Bet689🦍Voted✅ 23 points24 points  (0 children)

☝️

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    [–]DustyCritter17 🚀 Canadian 🦍 Ehpe 🇨🇦 84 points85 points  (7 children)

    Okay I have a question reading through the 10-k. Yes the company is profitable on the year but there was still an operating loss of $34.5M. This operating loss was offset by the $49.5M in net interest income. So basically the company is profitable not from their core business but through their investments. Am I reading this right?

    [–]DustyCritter17 🚀 Canadian 🦍 Ehpe 🇨🇦 44 points45 points  (3 children)

    Further (from the 10-k), net interest income is attributable to higher returns on cash, cash equivalents and marketable securities.

    I'm unsure exactly whether the net interest income comes from the whole cash, cash equivalents and marketable securities or mainly just the marketable securities.

    2023 Marketable securities $277.6M

    2023 Cash, cash equivalents and marketable securities $1,199.3M

    2023 Return of $49.5M

    2022 Marketable securities $251.6M

    2022 Cash, cash equivalents and marketable securities $1,390.6M

    2022 Return of $9.5M

    So year over year there was an additional $40M made on $191.3M less in cash, cash equivalents and marketable securities?

    What am I missing here? I'm far too smooth for this.

    [–]DustyCritter17 🚀 Canadian 🦍 Ehpe 🇨🇦 30 points31 points  (1 child)

    Is this entirely driven off of interest rates? As long as rates stay up, the cash keeps coming? And when rates go down, the company shifts its $1B cash elsewhere?

    I'm hurting my own brain here, maybe I should go back to work lol

    [–]hesh582 8 points9 points  (0 children)

    It's just interest rates.

    [–]hesh582 49 points50 points  (1 child)

    So basically the company is profitable not from their core business but through their investments. Am I reading this right?

    Not quite. Not their investments, just the fact that they're sitting on 1.2 billion in cash in a high interest/high inflation environment.

    It's just interest, it barely matches inflation, operations were still firmly in the red although definitely heading in the right direction.

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        [–]Capital_Extent7866 721 points722 points  (23 children)

        crazy how a company can go from a yearly 300M$ loss to net profitability in such a short amount of time, great leadership

        [–]Rhiis💎🦍 Idiosyncratic Investor 🦍💎 213 points214 points  (20 children)

        Despite a big drop in sales.

        [–]The_Prophet_85Saviour of bedposts 192 points193 points  (17 children)

        The drop in sales is because of the closing of unprofitable stores I would guess. Naturally sales and revenue will drop.

        [–]Kmccabe1213 81 points82 points  (0 children)

        They are going to hammer the down revenue and ignore the profit. Already seeing articles about it. It's not about losing money anymore since you know... They aren't they are showing revenue decline and pressing unsustainability for the long run. Move the goal posts

        [–]abandonX4🦍Voted✅ 27 points28 points  (11 children)

        Even if revenue drops, but profitability still goes up it means the execs are definitely on the right track on steering the ship. That said, console makers are abandoning physical media so we'll have to see how GameStop adapts to that.

        [–]Firm-Candidate-6700🦍🦍🦍on a🛩 11 points12 points  (10 children)

        Console makers will never drop physical media unless gamers themselves call for it.

        Otherwise competitors will strike on the opportunity and fill the void.

        [–]Rhiis💎🦍 Idiosyncratic Investor 🦍💎 4 points5 points  (0 children)

        I'd also wager that we're seeing the difference between a console-release Q4 vs. a no console-release Q4.

        The fact that we're up YoY is nothing short of incredible.

        [–]ExpressRabbit 2 points3 points  (0 children)

        I dunno. I have gamestops close near me but I still give them my revenue by just driving an extra 5-10 minutes to the next store. I expect most customers of the closed store are doing the same because gamestop is still the closest retailer.

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              [–]Lord_BaccaBIG STONKY 851 points852 points  (78 children)

              Full year profitability .. Keep dropping the price Kenny, i'm about to buy more.

              [–]elziion 379 points380 points  (75 children)

              Yeah, how can we be full year profitable, yet down -17% after hours?

              [–]PicksburghStillers🍯🌵🍄 Fun Guy 🍄🌵🍯 243 points244 points  (6 children)

              They set the price. They said it themselves.

              [–]Elegant-Remote6667Ape historian | the elegant remote you ARE looking for 🚀🟣 97 points98 points  (3 children)

              I have receipts of when they said that

              [–]thextcninja🎮 Power to the Players 🛑 8 points9 points  (0 children)

              I really hope that's in the movie.

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                [–]multiple_iterationsDRS is the catalyst 🌎👨‍🚀🔫👨‍🚀💎🤚🦍🚀🌒 151 points152 points  (4 children)

                Are you new here?

                [–]elziion 87 points88 points  (3 children)

                Not so much anymore, it’s still annoying

                [–]multiple_iterationsDRS is the catalyst 🌎👨‍🚀🔫👨‍🚀💎🤚🦍🚀🌒 34 points35 points  (2 children)

                That it is, choom 🤣

                [–]biggiec23I can do this all day. 45 points46 points  (2 children)

                GameStop missed some made up number be analysts.

                [–]OccasionQuick🚀 Uber GME Primate 🚀 22 points23 points  (1 child)

                Analysts that don't follow gamestop

                [–]Sad_Lettuce_7486🦍Voted✅ 15 points16 points  (0 children)

                Analysts that changed estimates within the last 30 days as well

                [–]physicalphysics314I am become direct register, destroyer of shorts 36 points37 points  (0 children)

                Crime

                [–]Fieryhotsauce🦍 Buckle Up 🚀 110 points111 points  (51 children)

                EPS miss and earnings reduction. Stock prices will naturally drop if profit estimates are missed, even if the company is profitable - look at Lululemon last week. Imagine a lot of people will say crime, but this ER is pretty weak in terms of what wall street looks for (future profits, guidance, etc). This report shows shrinking revenue and a bleak future - being profitable doesn't mean much if overall revenue is on a downturn. Gamestop needs new revenue streams.

                [–]Doovster💻 ComputerShared 🦍 78 points79 points  (6 children)

                Same price drop happened when they beat eps estimate by .30 the prior year though. Also shrinking revenue is mostly due to the closing of unprofitble stores so i would disagree on their future being bleak

                [–]ExtremePrivilege🔬 wrinkle brain 👨‍🔬 165 points166 points  (23 children)

                I have 30 downvotes on this comment from earlier this week.

                People here have gone full-blown cult. GameStop NEEDS new revenue streams. Funko Pops won't keep this business afloat. People are buying games digitally, overwhelmingly. 89% of sales in 2021, 92% of sales in 2022. Probably above 94% of sales in 2023, but I haven't seen those numbers yet. When everyone is getting games from GamePass or the Playstation Store or Steam / Epic / GOG, where does that leave a videogame retailer? Traditionally, GameStop made their biggest margins on the used game market. But with practically no physical copies being purchased, and direct competition now from Facebook Marketplace etc, we've seen a complete erosion of that market, too.

                How does GameStop break into the digital marketplace? The NFT marketplace idea was a good one, but too late and without enough developer buy-in. This pipedream of "people buying microtransacations as NFTs and having an aftermarket for trading" was naive. It didn't work. It was never going to work. So how does GameStop compete with Steam? How does GameStop compete with GamePass? Cohen is giving no guidance as to the plan because, frankly, I don't think there is one.

                Yes, they've stopped the bleeding. That's fantastic. -$331 million to +$6.7 million is a crazy feat. Well done to management. But NOW WHAT. We can't just keep breaking even.

                Unironically, the most hope this business has at this point is Cohen's $1 billion in cash to invest. But that's not GameStop's business model. We're not a mutual fund. That's not why I love the company. I could invest in other mutual funds with more AUM and better track-records of returns.

                I think people here need a bit of a wake up call. The company is not doing well. It has staved off immediate bankruptcy, but we're still in a dying industry (brick and mortar game sales) and we're still bleeding revenue every year. I can see why people, outside of this echo chamber, have a very sour sentiment on the stock.

                [–]Tribune-Of-The-Plebs🦍 Buckle Up 🚀 54 points55 points  (0 children)

                This is a highly rationale take. I fully agree with you. I've been invested with the company since January 2021, but I need to see some semblance of a sustainable growth plan from RC and Gamestop soon.

                [–]tallskiwallski83 47 points48 points  (5 children)

                THANK YOU. Take an upvote. This is the kind of discussion we need. Frankly, when Cohen said he wouldn't be offering forward guidance I applauded it at the time. But with the issues you are highlighting it really should upset current shareholders how we are being kept in the dark about what the plan (is there even one?) is. Gamestop is sitting on 1.1B dollars of $ they sold when the stock it was sitting 8x its current levels. Thats OUR money hes got, dont forget it.

                [–]Elegant-Remote6667Ape historian | the elegant remote you ARE looking for 🚀🟣 30 points31 points  (2 children)

                from someone who has read their fair share of hype. the earnings and profitability is a MASSIVE boost to the employees in the company. no longer are they fighting in a company that is losing money. they are making money which is a big one. its like getting rid of credit card debt.

                it may be what was the first step before establishing new revenue streams - there is a case to be made that establishing new revenue while the actual conversion of money to profit is ineffective, is well, quite ineffective.

                [–]hesh582 22 points23 points  (1 child)

                no longer are they fighting in a company that is losing money

                major caveat:

                The company they're running still lost a lot of money. That company's bank account, in a very high interest and very high inflation environment, earned a little more in interest than the company lost.

                GME's actual operations lost 35 million dollars. Better, but not good.

                The problem is that slashing revenue in order to take a retailer from "losing tons of money" to "roughly breaking even" is a story we saw a lot in the 2000s and 2010s. It's a story of death. That's what many of the major retail failures looked like. A company with 100 stores that turn a 10% profit, and 500 stores that see a significant loss, can see an enormous short term boost in profitability via cuts. But figuring out how to cut losses is emphatically different than figuring out how to make money - by doing that you've done nothing to improve profitability in any operations.

                The difference here is a large amount of money and the desire to use it to diversify into new revenue streams. That's great. But that's been the status quo for a long time now with zero movement. It's kinda, sorta ok news that they've stemmed the bleeding. But lower sales, lower revenue, operational losses, no forward guidance, a pathetic EPS? This wasn't good news. We need to know some concrete plans eventually here.

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                  [–]DancesWith2Socks🐈🐒💎🙌 Hang In There! 🎱 This Is The Wape 🧑‍🚀🚀🌕🍌 5 points6 points  (4 children)

                  Agree 100%. BestBuy entertainment section was up 8% YoY in their last quarter...

                  [–]throwawaylurker012Tendietown is the new Flavortown & DRS Is my Guy Fieri 5 points6 points  (1 child)

                  BestBuy entertainment section was up 8% YoY in their last quarter...

                  damn really?

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                      [–]Igotyoubaaabe 40 points41 points  (8 children)

                      This. You can scream CRIME all you want, but it comes down to this. Need vastly more revenue coming in and there doesn’t seem to be any guidance to where that will come from. RC cut to the bone, which is great and all to keep BK off the table, but until real growth happens they will continue to chip away at share price. I’ve held this stock patiently since 2021 but this sucks.

                      [–]raxnahali💻 ComputerShared 🦍 50 points51 points  (0 children)

                      6 million clear in a shit economy for Gamestop is not garbage. For the last decade this company has been bleeding cash, now they are profitable. 13million lent out the last 2 weeks was exactly for today's short selling.

                      Nothing new, lots of good news, I am pleased with the direction Gamestop is going.

                      [–]Equivalent-Fee-9503Tarzan 27 points28 points  (2 children)

                      Sorry what? Profitable now in spite of a bear economy, not the last few years. I am super happy

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                              [–]IMDarts🦍 Buckle Up 🚀 97 points98 points  (9 children)

                              As of March 20, 2024, there were 305,873,200 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares).

                              [–]concerned_citizen128🦍Voted✅ 64 points65 points  (7 children)

                              I don't understand how this is unchanged. WTF.

                              [–]SpeedRac3rr🎮 Power to the Players 🛑 74 points75 points  (5 children)

                              It's not unchanged GameStop was just told to stop reporting the real DRS count a few earnings reports ago. The count was delayed, wording changed, and it's been this ever since

                              [–]broats_ 14 points15 points  (4 children)

                              Is it verified that they were told to stop or is that just the most likely explanation?

                              [–]SpeedRac3rr🎮 Power to the Players 🛑 27 points28 points  (1 child)

                              I'm at work right now so I can't dig but I remember there being some leak that the DRS section of the report was held up by an agency. Only time it has ever not dropped with the earnings. Wording was changed and reported amount has been flat ever since. If you dig through the sub history back to the earnings flat DRS count started you can probably find some stuff

                              [–]Cthuga1 2 points3 points  (0 children)

                              Maybe in other words?: Splividend went wrong, rules needed changing to prevent havoc

                              [–]OptimisticViolence🦍Voted✅ 6 points7 points  (1 child)

                              Yeah the rules changed and basically they have to report DTCC's DrS numbers

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                                [–]Reverse_Entropy_ 4 points5 points  (0 children)

                                This is starting to sound like that French loan

                                [–]Dingleboer🏴‍?️🎮🟣 Yo ho, a financially literate life for me 🏴‍?️🎮🟣 444 points445 points  (32 children)

                                “FOURTH QUARTER OVERVIEW

                                Net sales were $1.794 billion for the fourth quarter, compared to $2.226 billion in the prior year's fourth quarter. Selling, general and administrative (“SG&A”) expenses were $359.2 million, or 20.0% of net sales, for the fourth quarter, compared to $453.4 million, or 20.4% of net sales, in the prior year's fourth quarter. Net income was $63.1 million for the fourth quarter, compared to net income of $48.2 million for the prior year’s fourth quarter. Cash, cash equivalents and marketable securities were $1.199 billion at the close of the quarter. Long-term debt remains limited to a low-interest, unsecured term loan associated with the French government's response to COVID-19. FULL YEAR OVERVIEW

                                Net sales were $5.273 billion for fiscal year 2023, compared to $5.927 billion for fiscal year 2022. SG&A expenses were $1.324 billion, or 25.1% of net sales, for fiscal year 2023, compared to $1.681 billion, or 28.4% of net sales, for fiscal year 2022. Net income was $6.7 million for fiscal year 2023, compared to a net loss of $313.1 million for fiscal year 2022. Adjusted EBITDA of $64.7 million for fiscal year 2023, compared to adjusted EBITDA of ($192.7) million for fiscal year 2022. The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-K.”

                                [–]Swissstuff 103 points104 points  (6 children)

                                Is the 10-K out now?

                                [–]GeminiKoil🦍Voted✅ 76 points77 points  (3 children)

                                I just got it in my box

                                [–]PissedOnBibleIDIOSYNCRATIC RISK IS MY FETISH 75 points76 points  (2 children)

                                That's what she said

                                [–]GeminiKoil🦍Voted✅ 22 points23 points  (1 child)

                                You know I caught myself as I finished typing it and just sent that shit anyways

                                [–]failbotron💻 ComputerShared 🦍 23 points24 points  (0 children)

                                Yes

                                https://gamestop.gcs-web.com/sec-filings/sec-filing/10-k/0001326380-24-000012

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                                  [–]physicalphysics314I am become direct register, destroyer of shorts 57 points58 points  (23 children)

                                  So the net sales between Q4 23 and Q4 22 seem to be the only difference between the net sales of 23 and 22.

                                  Interesting… I’d immediately imagine that that’s indicative of broader market sentiment (ie retailers are spending less money at retail stores in general, not that there’s a problem w GameStop)

                                  [–]Safrel 19 points20 points  (4 children)

                                  They shut down a bunch of unprofitable stores, so a decrease in revenue is expected as there are no longer such stores.

                                  [–]DrGepetto🎮 Power to the Players 🛑 29 points30 points  (16 children)

                                  Except Best buy reported 8.4% growth so maybe not

                                  [–]physicalphysics314I am become direct register, destroyer of shorts 33 points34 points  (10 children)

                                  Hmmm maybe I’m misreading but it looks like Best Buy sales took a 4.8% decrease YoY which already makes this a different case?

                                  [–]UhhhhmmmmNo🦍 Buckle Up 🚀 20 points21 points  (3 children)

                                  Unprofitable stores were closed so that will directly decrease revenue YoY. For this to be comparable we need to know the closed store’s revenue in 2022.

                                  [–]DrGepetto🎮 Power to the Players 🛑 3 points4 points  (2 children)

                                  Agreed. It looks like revenue was down about 12% yoy. If we closed more than 12% stores we're doing good. If we closed less than 12% of stores, not so much.

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                                        [–]JackBauerWSB🍦💩🚽100% DRS🍦💩🚽 416 points417 points  (0 children)

                                        Positive baby

                                        [–]SuperChimpMan 830 points831 points  (24 children)

                                        Profit! Fuck you Kenny and co. You criminal shit eaters

                                        [–]JohnnyGrey🏴‍?️ TRANSITION IS INFLATIONARY 🏴‍?️ 199 points200 points  (18 children)

                                        I said we profitable now!

                                        [–]Oi_Baldy☘️ Ape as Éireann ☘️ 379 points380 points  (17 children)

                                        Net profit 2022: -$313million

                                        Net profit 2023: +$6.7million

                                        Price after hours: -17%

                                        MSM: "🔥🔥🔥Sell GME now, PLEASE!!!!🔥🔥🔥"

                                        Me: This ain't my first rodeo ... *Unzips wallet

                                        "I just like the stock!"

                                        🦍🤝💪🏻

                                        🏴‍?️🟣🚀

                                        [–]Micaiah9🎮 Power to the Players 🛑 41 points42 points  (1 child)

                                        Unzips not just muuuuh waaaaallet

                                        [–]jobonki🎶 so the SEC won’t let me be, or let GME so let me see🎶 2 points3 points  (0 children)

                                        What are you doing step wallet?

                                        [–]Asmodeus256[REDACTED] me harder daddy 23 points24 points  (0 children)

                                        🪦🩳

                                        [–]Zealousideal_Bet689🦍Voted✅ 5 points6 points  (0 children)

                                        ☝️

                                        [–]skrappyfire GLITCHES WENT MAINSTREAM 10 points11 points  (0 children)

                                        Just picked up 8 more in after hours, thanks for the dip.

                                        [–]Secure_Investment_62 3 points4 points  (0 children)

                                        Just bought more after hours. Nice discount.?

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                                          [–]HASH_SLING_SLASH💻 ComputerShared 🦍 140 points141 points  (4 children)

                                          Looool $12.69 immediately after close!!! 🤣🤣🤣

                                          They're so fucked! Buying more tomorrow for sure!!!

                                          [–]SuperChimpMan 50 points51 points  (0 children)

                                          It’s too predictable. Hey, it’s free real estate

                                          [–]Mph2411 19 points20 points  (0 children)

                                          Oh, I laughed out loud. Fucking hilarious

                                          [–]DJBFL 3 points4 points  (0 children)

                                          Glad I saw that, bought 200 more moon tickets.

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                                            [–]Capital_Extent7866 134 points135 points  (14 children)

                                            what is the EPS?

                                            [–]MyvenomWidget Guy 101 points102 points  (4 children)

                                            $0.21

                                            [–]likekoolaid 84 points85 points  (3 children)

                                            vs .29 projected. explains the AH dip. hilarious stuff tbh

                                            [–]flop_plop🦍Voted✅ 8 points9 points  (1 child)

                                            Profit is profit and profit is great.

                                            Now I know I’m gonna get downvoted to oblivion but as long term shareholders we should be reasonably critical that they’re not meeting projections and not just praise for the sake of praising.

                                            RC is killing it, but we’ve gotta be exceeding those projections. I know he’s in the setup phase, so it’s all good but the dildo needs to keep green

                                            [–]DiFToXin🎮 Power to the Players 🛑 2 points3 points  (0 children)

                                            if wallstreet wants the company to stay suppressed they will just set the expectations higher than what their calculations actually predict to make it impossible for the company to meet them

                                            that way they can say "hey we thought it would be better, how disappointing. time to sell"

                                            while if the company actually meets these higher expectations they say "they barely managed to meet expectations. theyre running out of steam"

                                            and the case that the company exceeds those unrealistic expectations can basically never happen by design

                                            DISCLAIMER: i totally pulled this outta my ass but i wouldnt be surprised in the slightest if it is exactly whats going on here

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                                              [–]SixStringSuperfly💻 ComputerShared 🦍 72 points73 points  (2 children)

                                              .21/share for the quarter. .02/share for the year

                                              [–]thepoga🟣🤖DRSBOT#2Million🚀🌙 71 points72 points  (1 child)

                                              0.022 x 305,000,000 shares -> $6,700,000 profit

                                              Remember, previous years were $300,000,000 loss. What a turnaround in just 3 years! It was widely reported that profitability would be impossible. And GME still has $1.2 billion in cash.

                                              [–]SixStringSuperfly💻 ComputerShared 🦍 7 points8 points  (0 children)

                                              🚀🚀🚀

                                              [–]Stunning_Ferret1479 22 points23 points  (0 children)

                                              21 cents

                                              [–]LyonsKing12🦍 Buckle Up 🚀 3 points4 points  (0 children)

                                              In regards to Ken Griffin?

                                              Epic Pile of Shit

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                                                [–]welp007🍌 Bananya Manya 🤙 276 points277 points  (3 children)

                                                Aww sheet, here we go.

                                                Everybody get in here!

                                                [–]PornstarVirginKen’s Wife’s BF 132 points133 points  (2 children)

                                                AYYY LETS GOO. Full year profit.

                                                Full year ebita 65 mil compared to negative 192 mill last year

                                                That’s insane. Here we go. The slow squeeze starts quarter after quarter.

                                                Excited to see the 10q today and 10k soon

                                                [–]GL_Levity🍑 The Shares Are Up My Ass 🍑 20 points21 points  (1 child)

                                                10K just dropped in my inbox.

                                                [–]PornstarVirginKen’s Wife’s BF 5 points6 points  (0 children)

                                                Yurrr same. Read it all. Great year over year.

                                                [–]DrDalenQuaice🚀🎮🏴‍?️ I VOTED 🏴‍?️🎮🚀 557 points558 points  (25 children)

                                                We are profitable for 2023. It's very small but it's not zero

                                                [–]CR7isthegreatestDFV & The Defective Collective 565 points566 points  (13 children)

                                                $6.7M profit for the year vs $313M loss last year

                                                [–]santa_94🦍Voted✅ 184 points185 points  (0 children)

                                                Such a big improvement. Love my company

                                                [–]olivesandparmesan🌎🚀✦ Don't Pull Out. Be Financially Inside Me Forever.✦🌑🪐 84 points85 points  (6 children)

                                                Say it louder

                                                [–]SilverjaxThe Notorious G.M.E. 🦍 Voted ✅ 85 points86 points  (1 child)

                                                $6.7M profit for the year vs $313M loss last year

                                                [–]1studlyman🦍Voted✅ 30 points31 points  (2 children)

                                                How about we just mention the $1.2 billy in cash reserves, too?

                                                [–]JamMichaelVincent 5 points6 points  (0 children)

                                                Where did that come from. Oh yeah issuing shares…so us.

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                                                    [–]nathanellotldr; 70 points71 points  (1 child)

                                                    So GameStop lost roughly -$320M less dollars than last year. That’s one hell of a negative loss 🙌🏻

                                                    [–]hoppertn💪 FUD is the Mind-Killer 🍦💩🪑 29 points30 points  (0 children)

                                                    You see they had a negative negative profit of 6.7 million 😂

                                                    [–]DreadsboRandom Black Ape 10 points11 points  (0 children)

                                                    Hell, I’ll take it

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                                                      [–]JayBSmith🧚🧚🎮🛑 Infinite Risk 💎🧚🧚 60 points61 points  (1 child)

                                                      It’s progress..better than being negative.

                                                      [–]cercada_man 16 points17 points  (0 children)

                                                      We are negative in losses remember.

                                                      [–]elziion 10 points11 points  (0 children)

                                                      Thank you!!!!

                                                      [–]sAmSmanS🏴‍?️ ΔΡΣ 23 points24 points  (2 children)

                                                      profitable yet down 17% in AH roflmao

                                                      [–]Beaesse 18 points19 points  (0 children)

                                                      Because it was a miss, off "consensus" which said $0.25. Actual was $0.21 EPS. Of course the stock falls on worse-than-expected earnings.

                                                      (... /s for those who don't see it implicit)

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                                                        [–]hoppertn💪 FUD is the Mind-Killer 🍦💩🪑 9 points10 points  (0 children)

                                                        I’m so glad they eked out a positive number. Just makes the propaganda that much harder to sell, dying brick and mortar, lack of customer base, no direction , etc.

                                                        [–]Jr-12 4 points5 points  (2 children)

                                                        Down down $3 AH smh

                                                        [–]redshirt1972🦍 Buckle Up 🚀 11 points12 points  (0 children)

                                                        So no real news, dip, and we’ll be to $10 by next earnings. Copy.

                                                        [–]Dense_Acanthisitta39 87 points88 points  (6 children)

                                                        Net income at 63.1 million is a Cinderella story from where we were. Let the shorts continue to keep the stock on sale. No one is leaving!

                                                        [–]tdickles💻 ComputerShared 🦍 41 points42 points  (0 children)

                                                        Commenting for invincibility

                                                        [–]Hermera9000 102 points103 points  (0 children)

                                                        0.21 Q4 and 0.02 2023 EPS. Happy screeching

                                                        [–]winnbergDiarrhea Guy 164 points165 points  (9 children)

                                                        Profitability of $6.7mm for FY2023. Outstanding!

                                                        [–]Mile_High_Man💎🚀Wu-Tang NFT🚀💎 58 points59 points  (0 children)

                                                        It's not much, but it's honest work!!

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                                                          [–]Puzzleheaded-Safe-64🦍Voted✅ 53 points54 points  (0 children)

                                                          So it's getting hammered the amount it got raised the last two days? On a profitable year? Yeah sure.

                                                          [–]TheTangoFoxJackass of all trades 178 points179 points  (23 children)

                                                          $18m long term debt.

                                                          $1.19b cash equivalents.

                                                          Explain to me how this company is dying?

                                                          [–]PornstarVirginKen’s Wife’s BF 77 points78 points  (14 children)

                                                          Well you see…. It’s losing negative money each year and if a company keeps performing that well it’s surely destined to go out of business

                                                          [–]GL_Levity🍑 The Shares Are Up My Ass 🍑 3 points4 points  (3 children)

                                                          Shills have told me 1Billie in cash is bad. Because, reasons.

                                                          [–]PornstarVirginKen’s Wife’s BF 4 points5 points  (0 children)

                                                          It is BAD, ITS BAD for them

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                                                              [–]darth_butcher🎮 Power to the Players 🛑 17 points18 points  (3 children)

                                                              "The decrease in consolidated net sales in fiscal 2023 compared to the prior year was primarily attributable to a $300.6 million or 16.5%, decline in the sales of software, a $210.6 million or 21.8%, decline in the sales of collectibles, and a $191.1 million or 11.8%, decline in the sales of video game accessories, partially offset by a $47.9 million or 3.2%, increase in the sales of new hardware driven in part by decreased supply constraints in our Europe segment in the current year."

                                                              This does sound a bit concerning...

                                                              [–]TheTangoFoxJackass of all trades 5 points6 points  (2 children)

                                                              No new console demand right now

                                                              [–]True-Persimmon-296🧚🧚🏴‍?️ Smooth ? AF 🌕🧚🧚 35 points36 points  (1 child)

                                                              Decreasing revenues. As revenues decline, it will become harder to generate a profit going forward. I like the stock, but the reality is that GameStop needs to find new streams of revenue in order to grow their business.

                                                              [–]The_Prophet_85Saviour of bedposts 7 points8 points  (0 children)

                                                              I don't know but that french loan must have something to do with it. Maybe a french guy touched Kenny inappropriately...

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                                                                [–]Aiball09Rehypothecated Diamond Balls 💎🚀🦍 71 points72 points  (2 children)

                                                                +6.7 mm from -313mm year before… that is a big deal lol

                                                                [–]moustacheption🎮 Power to the Players 🛑 5 points6 points  (0 children)

                                                                Remember when corporate media said “GameStop not profitable, it’s dying” and profitability was the most important thing over and over… now it is and suddenly we are supposed to care about revenue only and profitability isn’t relevant.

                                                                I’m starting to think they never meant anything they’ve claimed 🤔

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                                                                  [–]Inevitable-Elk-4162💩Poops n Loops 🟣 75 points76 points  (2 children)

                                                                  The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-K.

                                                                  Wen 10-k?

                                                                  [–]MrL09🦍 Buckle Up 🚀 28 points29 points  (0 children)

                                                                  Just dropped.

                                                                  [–]NostalgiaSC🎮 Power to the Players 🛑 14 points15 points  (0 children)

                                                                  Usually within 10 days I think right?

                                                                  [–]Prucifer88 21 points22 points  (4 children)

                                                                  I mean... there is a cost of living crisis thing happening at least...

                                                                  [–]KrazyMoose 87 points88 points  (6 children)

                                                                  GameStop’s Q4 profit was $15M higher in 2023 than in 2024 while sales were nearly $450M lower. Step 1 was achieving profitability, step 2 is growth.

                                                                  [–]Ronaldoooope🎮 Power to the Players 🛑 14 points15 points  (0 children)

                                                                  Closing down shite stores is also gonna bring down that number.

                                                                  [–]haminthefryingpan🎮 Power to the Players 🛑 6 points7 points  (1 child)

                                                                  What kind of revenue streams we working with? Anything new that wasn’t shut down? Or just same old song and dance?

                                                                  [–]Waaugh🦍Voted✅ 7 points8 points  (0 children)

                                                                  I suspect we'll continue on a long, slow downtrend until they do something to get the revenue going. I know people don't like to hear it but I still think the board giving some kind of guidance on how they plan to achieve that could do wonders for the stock price.

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                                                                    [–]DJchalupaBatman💻 ComputerShared 🦍 35 points36 points  (2 children)

                                                                    DRS number is now 75.3 million shares after being 75.4 for the last 2 quarters…

                                                                    [–]CandyBarsJ 9 points10 points  (0 children)

                                                                    😅🤣 magic! Aint selling never anyway, will add more regardless. Each equity share in my name = 💪💪💪💪🫡

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                                                                      [–]BootyContender 12 points13 points  (0 children)

                                                                      " Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares)." Top of the curve y'all think?

                                                                      [–]Ok_Dig_3431Tendie Man Cums 13 points14 points  (2 children)

                                                                      It's amazing how people forget about inflation and act like we live in normal times where people have all this extra money. Revenue streams don't mean shit when people don't have spending money.. it's amazing we are profitable in this environment. I'll continue to be the voice of reason.. I will die on this hill

                                                                      [–]williams55mike🎮 Power to the Players 🛑 39 points40 points  (0 children)

                                                                      Going to have to buy some chips to go with this spicy dip.

                                                                      [–]RandomActsOfAnus🧙‍♂️ nat20 for holding check 8 points9 points  (0 children)

                                                                      Long-term debt remains limited to a low-interest, unsecured term loan associated with the French government's response to COVID-19.

                                                                      ah my beloved 😍

                                                                      [–]chicu111 45 points46 points  (7 children)

                                                                      I got downvoted into oblivion before when I said it will dip like usual even after positive earning. The fuckery doesn’t stop.

                                                                      And look. Dip. Apes in here act like hedgies will just roll over. Been this way for almost 4 years

                                                                      [–]YakiMe🚀🦍🦍🦍 For The Horde!!! 🦍🦍🦍🚀 8 points9 points  (0 children)

                                                                      It's tradition

                                                                      [–]BezereGary CumGensler 💦🥵 3 points4 points  (0 children)

                                                                      Could go back up tomorrow.

                                                                      This is just hedge fucks building their narrative

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                                                                        [–]SoupyM 31 points32 points  (22 children)

                                                                        It is interesting - even if companies don't hit analyst estimates for earnings, they tend to soar IF guidance looks good. GME didn't hit the analysis consensus for EPS BUT they've achieved profitability from a $300 million loss the year prior. You'd figure the market would react positively to that but who even knows anymore. I don't like how there's no earnings call - whats up with that? I'm looking forward to DRS numbers being the exact same or somehow less then other quarters because of some manufactured reasoning.

                                                                        [–]PapaofmonstersMy IRA is GME 19 points20 points  (2 children)

                                                                        It is interesting - even if companies don't hit analyst estimates for earnings, they tend to soar IF guidance looks good.

                                                                        GME hasn't been giving guidance and not even bothering with a year end conference call is a terrible look for market sentiment.

                                                                        [–]SoupyM 8 points9 points  (1 child)

                                                                        Yeah that's true - no guidance in the report despite the move into profitability. It frustrates me when they don't do a conference call - not only does it keep investors in the dark, but you're right, terrible for market sentiment.

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                                                                          [–]ClockPretend4277🎨 Happy Little Wrinkle ? 5 points6 points  (2 children)

                                                                          Yea baby. Best company

                                                                          [–]theArcticChillerNever EVER back to reasonable land! 2 points3 points  (1 child)

                                                                          🎮🚀🟣

                                                                          The old business model is cleaned up and the company is ready for its new future. I'm looking forward to the next quarters!

                                                                          [–]FaultInternational91 52 points53 points  (8 children)

                                                                          Shills are out in force trying to make out like the 500m lower revenue to 2022 is the big talking point, exactly the same talking point the media is pulling. Even though we made a profit for the first time in years lmao

                                                                          [–]Hedkandi1210 7 points8 points  (0 children)

                                                                          Very much. We spot them. Tbh I’d get lonely if they didn’t say hi

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                                                                            [–]TipperGore-69 4 points5 points  (0 children)

                                                                            Nice dip

                                                                            [–]game_overies 3 points4 points  (0 children)

                                                                            Discount right on queue!!

                                                                            [–]YakiMe🚀🦍🦍🦍 For The Horde!!! 🦍🦍🦍🚀 6 points7 points  (2 children)

                                                                            And now... As is tradition... We dip for two days at least

                                                                            [–]crowe1130 3 points4 points  (1 child)

                                                                            You mean we stock up.

                                                                            [–]Forsaken-Director-34 7 points8 points  (0 children)

                                                                            LOLOLOL holy fuck.. I was actually bummed out bc my target was 5k shares and I only got to 4K prior to the earnings.. I really thought it would get to $18-$20 and I’d just sit on 4K… but we’re back at $12-$13??? Shiiiiiet… now I’m gunnin for 10k. LFG!

                                                                            [–]Jaywess86🎮 Power to the Players 🛑 3 points4 points  (0 children)

                                                                            Believe it or not, dip

                                                                            [–]eyedrewu🦍Voted✅ 2 points3 points  (0 children)

                                                                            Did the price have to run the past week or so, so it could be slammed this much? I mean if the plan was a massive drop on earnings then wouldn't it have been better to drop it from $13-14 rather than $15.50? Maybe sub $10 would have been more dangerous than effective.

                                                                            [–]ReadAccountFREE HODLER 🏴‍?️💀 3 points4 points  (0 children)

                                                                            Gonna tell my kids I was here

                                                                            [–]Snack_King_9278tag u/Superstonk-Flairy for a flair 62 points63 points  (9 children)

                                                                            Pretty noteable drop in sales. Expenses a tad higher. Cash at 1.2B is strong and EBIDTA positive on the year officially.

                                                                            I don’t love how there is not a call. We really need to start hearing more on what will drive rev

                                                                            [–]haminthefryingpan🎮 Power to the Players 🛑 7 points8 points  (1 child)

                                                                            Exactly. As far as we know there are no new revenue streams and sales on current business declined

                                                                            [–]Snack_King_9278tag u/Superstonk-Flairy for a flair 3 points4 points  (0 children)

                                                                            My hope is that we are at the end of the cycle for the old business model and hopefully transitioning into whatever the future state is. Profitability is obviously critical but without revenue growth you don’t have anything

                                                                            [–]hesh582 2 points3 points  (0 children)

                                                                            I don’t love how there is not a call. We really need to start hearing more on what will drive rev

                                                                            The lack of information is something that need to be discussed more.

                                                                            What is the actual plan? It's been years of sitting on a mound of cash and not doing anything with it. They can't even release guidance, letting analyst estimates set every narrative, much less anything about strategic direction.

                                                                            This ER described a run of the mill dying retailer contracting sales substantially in order to reduce unprofitability, without any indication how they might either grow or generate significant profits. We've seen this before - a retailer enters a death spiral where all they can do is reduce losses and turn small profits by shrinking revenue YoY. Every single operational category except new hardware posted a substantial contraction, and that was still down adjusted for inflation.

                                                                            Operations still weren't even profitable. The interest on a pile of cash was. GME's actual business lost 35 million.

                                                                            This ER described a dying business model trying to buy time. Time for what? What's next?

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                                                                              [–]NinertimeAll species require adversity to survive 16 points17 points  (1 child)

                                                                              Furlongs pay would have made us not profitable for the year right? What a difference that makes!

                                                                              [–]Digitlnoize🎮 Power to the Players 🛑 6 points7 points  (0 children)

                                                                              We made it by $6 million. Almost anything would’ve made us not profitable for the year lol. But yes.

                                                                              [–]plithy75 4 points5 points  (0 children)

                                                                              dug us out of $313 in the negative in ONE YEAR. Our CEO (and Chief Investment Officer) is amazing 👀

                                                                              [–]Ok_Island_1306 2 points3 points  (0 children)

                                                                              When was the last profitable year? I tried googling but don’t know how to find that info

                                                                              [–]b4st1an $GME Collector 2 points3 points  (0 children)

                                                                              Profitable 🎉 ...AND hitting my naughty limit buy order directly after 🔥 so predictable kennyb0y

                                                                              [–]deltacombatives 2 points3 points  (0 children)

                                                                              $277.6 million in marketable securities - short-term government notes, government bills, and time deposits.

                                                                              [–]kooliocole🦍 Buckle Up 🚀 2 points3 points  (0 children)

                                                                              Looooo down -15% in AH as expected

                                                                              [–]joejitsu_crypto💻 ComputerShared 🦍 2 points3 points  (0 children)

                                                                              HEY, HO, LET'S GO!

                                                                              [–]simpleman92k🧚🧚🌕 Crayon Sniffer 🐵🧚🧚 2 points3 points  (0 children)

                                                                              All these comments and not a single one mentions MOASS. Sounds like it’s further off than tomorrow

                                                                              [–]AlphaDag13🎮 Power to the Players 🛑 8 points9 points  (0 children)

                                                                              I fucking hate MSM so fucking much. The way these bastards report. "GME tanks on BIG earnings miss!" FUCK OFF. They're POSITIVE. This is why I keep holding. This is why I keep buying. They make it so obvious. FUCK YOU MSM.

                                                                              [–]sth-nl💻 ComputerShared 🦍 48 points49 points  (19 children)

                                                                              Jesus 500mil less sales is rough. I know it’s closing shops and profitable. But that is a massive revenue drop. Damn.

                                                                              [–]demoncasehedgies r fuk 52 points53 points  (7 children)

                                                                              That's fucked because when Microsoft, fucking Twitter, Paypal, any tech company announces a layoff, cost reduction, the stocks soars in the market...

                                                                              [–]thelooseisroose 9 points10 points  (0 children)

                                                                              None of those companies are doing -10% sales yoy though

                                                                              [–]will6100🎮 Power to the Players 🛑 8 points9 points  (3 children)

                                                                              what does that have to do with a revenue drop?

                                                                              [–]CR7isthegreatestDFV & The Defective Collective 14 points15 points  (0 children)

                                                                              I don’t mind cheaper shares to DRS 💯

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                                                                                [–]leeauxxx🙊Hairless Skunk Ape🙊 6 points7 points  (0 children)

                                                                                Gotta fight fire with fire

                                                                                [–]Marijuana_Miler🏃‍♂️Forest Stonk 8 points9 points  (0 children)

                                                                                Q4 last year was when the current gen consoles finally ironed out their supply chain and could constantly supply consoles. Yes, a drop in revenue is not ideal but the net income was up year over year. So GME is making more profit and has lower costs. It’s one piece of not great news in a sea of otherwise very positive results.

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                                                                                  [–]shirleytemplepilotsMo' Money, MOASS 4 points5 points  (0 children)

                                                                                  I am so proud of all of us. We helped our company have a profitable quarter

                                                                                  [–]MoodShoes 4 points5 points  (0 children)

                                                                                  Profitable company, huge turn around, debt free, cash on hand...stock drops 15% lol. Hold.

                                                                                  [–]rocketloot🦍Voted✅ 9 points10 points  (0 children)

                                                                                  RC has that DOG in him. Great CEO with own skin in the game.

                                                                                  Working hard to close money losing stores. Lower revenue will be hammered hard by MSM but they won’t mention profitability. It’s normal to have a drop in revenue when ur shedding dead weight.

                                                                                  Who cares about losing that $1 of revenue when it costed you $1.5 to make?

                                                                                  Prob a bit more cutting obviously fat and then RC will start bulking up on profitable plays.

                                                                                  Speedy turnaround of a big ship

                                                                                  At the end of day, net profit is up from -300m to +6m and shorts are going to be big mad. Another 1-2 quarters and they might have to “capitulate” 😂

                                                                                  Trading is hard isn’t it?

                                                                                  [–]Only-Low3027 13 points14 points  (1 child)

                                                                                  OH MY GOD FULL YEAR PROFITABILITY QUICK EVERYONE SELL IN AH NOW THAT THAT THINGS ARE GOING WELL FOR OUR COMPANY

                                                                                  lol like how dumb do they think we are, probably just trying to fuck options up but thank you for the dip!

                                                                                  [–]UhhhhmmmmNo🦍 Buckle Up 🚀 4 points5 points  (1 child)

                                                                                  TLDR: revenue down, expenses down, profit up and positive. Which makes sense since company closed unprofitable locations and cut costs.

                                                                                  [–]Robert__or__Bob💻 ComputerShared 🦍 2 points3 points  (0 children)

                                                                                  This is KG doing one of his attacks -- GME will be fine.

                                                                                  [–]Robert__or__Bob💻 ComputerShared 🦍 4 points5 points  (0 children)

                                                                                  These people don't know how to read financial statements.

                                                                                  The sales are a bit lower because GME closed some of the less productive stores.

                                                                                  The numbers aren't bad.

                                                                                  [–]LonelyAndroid11942 4 points5 points  (0 children)

                                                                                  $6.7M on the year ain’t a lot for a big company, buy when you consider the fact that discretionary spending is down, inflation is up, and we’re entering a recession? It’s damn impressive. Even more so when the company has been losing money to this point.

                                                                                  I mean shit, look at how much the cost of sales figure shrank! That’s some insane improvement in operational efficiency. If RCEO and our company can pull that off in this climate? That’s a big step forward that’s only going to continue to pay off.

                                                                                  [–]passtflask 3 points4 points  (0 children)

                                                                                  Stock price stayed the same as it was 3 days ago lmao, so don't let any fud article convince you the stock price "tanked". Shares shuffled around

                                                                                  [–]z3speed4me🎮 Power to the Players 🛑 3 points4 points  (0 children)

                                                                                  It's almost as if the price increase today and yesterday was artificial hmmm

                                                                                  Where do these ridiculous expectations from so-called analysts come from anyway to ensure it's basically going to be a miss even though the profit is a win

                                                                                  [–]wikiwoowhat 7 points8 points  (0 children)

                                                                                  Cohen never does ER calls so we never get forward guidance. Funds need forward guidance. He has no damn plann

                                                                                  [–]C6Bro44🎮 Power to the Players 🛑 1 point2 points  (0 children)

                                                                                  Of course it gets shorted SMDH guess im buying some more tomorrow

                                                                                  [–]Key-Procedure-8136 1 point2 points  (0 children)

                                                                                  We haven't left and we aren't leaving!! Lfg

                                                                                  [–]PDZef🎮 Power to the Players 🛑 1 point2 points  (0 children)

                                                                                  Accounts payable and accrued liabilities $397M... does this mean we purchased more inventory for next years gains, or have we purchased something much bigger for nearly 400 million??? Hmmm....

                                                                                  [–]Day_n_Night🦍 Buckle Up 🚀 1 point2 points  (0 children)

                                                                                  Here I go buying again…

                                                                                  [–]BlitzBlitzBlitzzz 1 point2 points  (0 children)

                                                                                  Profitable because of SG&A cuts specifically says “reduction in…Consulting Services Cost” and interest income was $49M (vs 9.5M in ’22)

                                                                                  [–]CrosshairLunchbox💻 ComputerShared 🦍 1 point2 points  (0 children)

                                                                                  Is RC not CIO anymore? Looks like it takes a unanimous vote from the Investment Committee Seems like an interesting change between 12/5/23 grant of CIO to RC then 3/21/24 to Investment Committee instead of RC

                                                                                  10K item 7 subheading "Investments"

                                                                                  [–]soocoo247🦧 GME Whore 🦍 1 point2 points  (0 children)

                                                                                  Believe it or not, dip. 🤣

                                                                                  [–]Bestoftherest222🦍Voted✅ 1 point2 points  (0 children)

                                                                                  Where is the 1.2 billion $$$ going? I cant seem to find if its in some stocks or in a high yield account.

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