• Loading stock data...
Friday, February 21, 2025

GameStop Reports Mixed Results in Q3

  • GameStop posted net sales of $1.29 billion in Q3 2021.
  • The video game retailer also suffered a net loss of $105.4 million during the quarter.
GameStop-Storefront
Design: Alex Brooks

GameStop posted net sales of $1.29 billion in Q3 2021, up from $1 billion for the same period last year. 

The video game retailer attributed the increase in sales to new and expanded brand partnerships that include deals with Samsung, LG, Razer, Vizio, and others. 

Despite the revenue growth, GameStop posted a net loss of $105.4 million during the quarter, a significant increase from a loss of $18.8 million in Q3 2020. 

Shares of the company fell more than 7% on Thursday following the release of its Q3 earnings and a subpoena issued by the SEC regarding trading activity. 

A Year Full of Change

GameStop continues to make significant moves and overhaul its business. 

  • In June, the company raised $1.13 billion to expedite its pivot toward e-commerce through an at-the-market offering.
  • The same month, it appointed a new regime of leadership — including a revamped executive team and board of directors.
  • It is hiring to build an Ethereum-based NFT platform.
  • The company is reportedly in talks with fellow meme stock company AMC on a potential partnership. 

GameStop reported $669.9 million in hardware sales in Q3 2021, up from $413.4 million in Q3 2020, despite the semiconductor shortage and supply chain issues plaguing the tech industry. Software sales reached $434.5 million in Q3, down from $444.4 million a year prior. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

CFP Seeding Changes Could Be Coming. Is Expansion Next?

Big Ten and SEC commissioners are pushing changes.
Jun 13, 2018; Moscow, Russia; A general view of a beer stand inside of Luschniki Stadium one day prior to the start of the FIFA World Cup 2018.

Saudi Arabia Says No Alcohol at 2034 World Cup

Saudi Arabia won’t allow alcohol anywhere during the 2034 World Cup.

ESPN’s Laura Rutledge on Juggling NFL, SEC, and Motherhood

Rutledge has myriad responsibilities at ESPN—to go along with two young kids.

Winning Comes at a Price: Texas and Ohio State Report Record Expenses

The Longhorns reported $325 million in operating expenses last fiscal year.

Featured Today

Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.

Inside the Push for the NHL’s Next Era of International Competition

Players have been clamoring, and the league is all in.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
Feb 18, 2024; Indianapolis, Indiana, USA; Eastern Conference guard Damian Lillard (0) of the Milwaukee Bucks reacts after a play during the second half of the 73rd NBA All Star game at Gainbridge Fieldhouse.
February 15, 2025

The NBA’s Latest Attempt To Solve the All-Star Game Conundrum

A new mini-tournament on a lame-duck network may not solve the problem.
Jan 9, 2025; Pittsburgh, Pennsylvania, USA; Edmonton Oilers center Connor McDavid (97) checks Pittsburgh Penguins center Sidney Crosby (87) during the third period at PPG Paints Arena
February 11, 2025

‘Important’ 4 Nations Face-Off Can Be NHL’s All-Star Antidote

“The stars have been lobbying the league for an event like this.”

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.
July 24, 2024

The Perfect Storm Propelling ‘EA Sports College Football’ to Early Success

Growing fandom and a long wait have already reaped dividends for EA.
July 20, 2024

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.