• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

GameStop reports fall in third-quarter revenue as consumers curb spending

by December 10, 2024
written by December 10, 2024

(Refiles to remove extraneous words in paragraph 2)

(Reuters) – Videogame retailer GameStop (NYSE:GME) reported a fall in third-quarter revenue on Tuesday, hit by a continued slump in spending at its brick-and-mortar stores as consumers shift to online platforms.

The company’s third-quarter revenue fell 20% to $860 million, compared with $1.08 billion a year ago.

GameStop has been grappling with a slower turnaround of its main business as it struggles to ramp up sales of videogame hardware and collectibles, while facing stiff competition from online retail giants such as Amazon.com (NASDAQ:AMZN) and eBay (NASDAQ:EBAY).

It is also burdened by an uncertain macroeconomic environment as consumers cut back on discretionary spending owing to stubborn inflation and a slow recovery in the gaming market.

The company reported net income of $17.4 million in the third quarter, compared with a net loss of $3.1 million a year ago.

(This story has been refiled to remove extraneous words in paragraph 2)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Global shares fall, dollar climbs ahead of inflation report
next post
Morning Bid: Taking chips off the table, seeking China clarity

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Exclusive-US probe finds China unfairly dominates shipbuilding, paving way for penalties, sources say
    • NetEase earnings missed by ¥0.64, revenue fell short of estimates

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy