Games distributor GameStop ($GME) has released its financial results for the first quarter of 2025. The company’s net sales fell 17% compared to the same period last year, reaching $732.4 million, a significant improvement in operational losses.
GameStop’s sales, general and administrative expenses (SG&A) were $228.1 million for the quarter, down from $295.1 million in the same period last year.
Operating losses fell to $10.8 million, a significant improvement in operating losses last year from $50.6 million. Quarterly operating losses included impairment charges of $35.5 million recorded as part of our international restructuring process.
Excluding these one-off items, adjusted operating income was $27.5 million compared to an adjusted operating loss of $55 million in the same period last year.
There have also been major changes in the net profit side. The company reported net profit of $44.8 million this year, compared to a net loss of $32.3 million in the first quarter last year. Adjusted, net income reached $83.1 million. This is in stark contrast to the adjusted net loss of $36.7 million the previous year.
GameStop’s balance sheet strength has also improved significantly, with the company’s cash, cash equivalents and marketable securities totaling $6.4 billion at the end of the quarter, up from $1 billion in the same period last year.
The company completed the sale of its Canadian business on May 4, 2025. Additionally, I purchased 4,710 Bitcoins between May 3rd and June 10th, 2025.
*This is not investment advice.