GameStop Corp. posted net sales of $798.3 million in Q2 2024, down 31% from $1.16 billion in the prior year period. Despite lower revenue, the company achieved a net profit of $14.8 million, compared to a $2.8 million loss last year, benefiting from higher interest income and improved gross margins.The company's gross profit margin improved to 31.2% from 26.3% year-over-year, while SG&A expenses were $270.8 million or 33.9% of net sales. Hardware and accessories remained the largest segment at 56.5% of sales, followed by software at 26% and collectibles at 17.5%.GameStop maintained a strong liquidity position with $4.2 billion in cash and marketable securities at quarter-end. The company raised approximately $3.06 billion through an at-the-market (ATM) offering during the quarter, significantly strengthening its balance sheet.

GameStop Corp. posted net sales of $798.3 million in Q2 2024, down 31% from $1.16 billion in the prior year period. Despite lower revenue, the company achieved a net profit of $14.8 million, compared to a $2.8 million loss last year, benefiting from higher interest income and improved gross margins.The company's gross profit margin improved to 31.2% from 26.3% year-over-year, while SG&A expenses were $270.8 million or 33.9% of net sales. Hardware and accessories remained the largest segment at 56.5% of sales, followed by software at 26% and collectibles at 17.5%.GameStop maintained a strong liquidity position with $4.2 billion in cash and marketable securities at quarter-end. The company raised approximately $3.06 billion through an at-the-market (ATM) offering during the quarter, significantly strengthening its balance sheet.