Published , by Morgan Shaver
Published , by Morgan Shaver
GameStop (GME) has shared its financial results for the third quarter which ended on October 29, 2022, and included in the report is information regarding cash on hand which decreased by $97.5 million. Additionally, the report remarks that cash, cash equivalents, and marketable securities came in at $1.042 billion at the end of Q3.
In the company’s consolidated statement, cash flows from operating activities reported a loss of $94.7 million, with other data reflected including net cash flows used in investing activities coming in at $249.6 million. Despite a decrease in cash according to GAAP during the quarter, the non-GAAP free cash flow reconciliation showed an increase of $164.3 million during Q3 2022.
Other key information included in GameStop’s reporting center around how net sales were $1.186 billion compared to $1.297 billion in Q3 2021, how long-term debt remains “limited to a low-interest, unsecured term loan” as associated with the French government’s COVID-19 response, and aspects like selling, general, and administrative expenses (SG&A) reported at $387.9 million or 32.7 percent of sales compared to the previous year’s $421.5 million or 32.5 percent of sales.
To dig even deeper, be sure to read through the full GameStop (GME) earnings report for Q3 2022. You can also catch up with some of our previous coverage, including the GameStop (GME) Q3 2022 earnings and revenue expectations, and how you can listen to the GameStop (GME) Q3 2022 earnings call here.