GameStop Focuses On Digital Future As It Reports $157 Million | Forbes

GameStop Focuses On Digital Future As It Reports $157 Million Quarterly Loss

Gaming retailer GameStop’s net loss more than doubled in the first quarter, compared to a year ago, but CEO Matt Furlong says the company is winning in the metrics that matter most.

Primary among those, Furlong said is top-line growth. GameStop’s net sales were $1.378 billion for the quarter, up from $1.277 billion in the first quarter of fiscal year 2022.

Furlong emphasized, as he has in previous earnings calls, that the company considers long-term revenue growth the best indicator that its turnaround strategy is working, and main way stockholders should measure the company’s performance.

The quarter’s net loss was $157.9 million, or $2.08 per share, compared to $66.8 million or $1.01 per share in the first quarter of fiscal 2021.