Published , by Morgan Shaver
Published , by Morgan Shaver
GameStop has released its financial results for the fourth quarter of 2022 and fiscal year ending on January 28, 2023. According to the report, GameStop ended Q4 2022 with $1.391 billion cash on hand at the close of the quarter.
Elsewhere in the report, it’s noted that net sales were $2.226 billion compared to $2.254 billion in the previous year’s fourth quarter. Net income came in at $48.2 million compared to a net loss of $147.5 million from the prior year’s fourth quarter.
In regards to inventory, this was reported at $682.9 million at the close of the period, “compared to $915.0 million at the close of the prior year’s fourth quarter, reflecting the Company’s ongoing focus on maintaining a health inventory position.”
Overall, it seems like GameStop is heading in the right direction as far as things like cash on hand and net income for its fourth quarter. Additionally, as remarked upon by GameStop, its inventory position is in a decent place. For more on GameStop’s Q4 2022 financial results, be sure to read through the full, official report.
And for more on GameStop, catch up with some of our previous coverage including GameStop (GME) Q4 2022 EPS and revenue expectations, and how GameStop’s NFT Wallet UI dev nftspike is no longer working at the company.