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Stock impact report

Collectibles now make up nearly a third of GameStop's sales [Yahoo! Finance]

GameStop Corporation (GME) 
Last gamestop corporation earnings: 3/26 04:06 pm Check Earnings Report
Company Research Source: Yahoo! Finance
GameStop's third quarter net sales declined nearly 4.6% year over year to $821 million, per a company press release Tuesday. The gaming and electronics retailer swung from an operating loss the year prior to an operating income of $41.3 million for the period. The company's net income during the quarter grew to $77.1 million, compared to last year's $17.4 million. Additionally, SG&A expenses dropped almost 21.5% to $221.4 million, primarily due to “a reduction in labor-related, consulting services, and marketing costs of $23.6 million” stemming from larger cost-reduction efforts, per a U.S. Securities and Exchange Commission filing Tuesday. GameStop — which did not provide forward-looking guidance or host an earnings call with analysts — noted its Bitcoin holdings at the end of Q3 were valued at $519.4 million. This is a drop from the previous quarter's Bitcoin asset valuation of $528.6 million. GameStop's latest earnings results come after second quarter wins in September, whe Show less Read more
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