{"id":217758,"date":"2023-03-22T09:14:38","date_gmt":"2023-03-22T13:14:38","guid":{"rendered":"https:\/\/sftarticles.wpenginepowered.com\/es\/?p=278254"},"modified":"2025-07-01T19:45:52","modified_gmt":"2025-07-02T02:45:52","slug":"i-just-bad-streak-gamestop-returns-to-have-benefits-two-years-drought-shoot-shares","status":"publish","type":"post","link":"https:\/\/cms-articles.softonic.io\/en\/i-just-bad-streak-gamestop-returns-to-have-benefits-two-years-drought-shoot-shares\/","title":{"rendered":"GameStop’s Fortunes Turn: Ends Two-Year Drought with Profit and Share Spike"},"content":{"rendered":"\n

GameStop<\/a><\/strong> is starting to raise its head. Once the queen of video game and game console sales (before the arrival of the “almighty” Amazon<\/a><\/strong>), GameStop has reported profits in its last fiscal quarter, after a bad business streak that has lasted a whopping two years<\/strong>.<\/p>\n\n\n

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Following this rebound in the company’s profits, the value of GameStop’s shares soared by more than 40% in the stock market<\/strong>, according to CNBC<\/a><\/strong>. Looking ahead to this year, the company intends to make a series of cuts to curb cost overruns, including in the European market, where it has a shrinking presence.<\/p>\n\n\n\n

Matt Furlong<\/strong>, GameStop’s CEO, also stated that it is considering expanding its product range and selling toys, which can provide a higher profit margin<\/strong> for the company. Likewise, it intends to expand its online business selling video games, thus following the path the industry is taking.<\/p>\n\n\n\n

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With net sales of $2.23 billion, down slightly from the same quarter in 2022 ($2.25 billion), GameStop ended last quarter with a profit of $48.2 million<\/strong>. Last year, GameStop faced losses reaching $147.5 million.<\/p>\n\n\n\n

GameStop, which has not provided any financial information since the start of the COVID-19<\/strong> pandemic, has managed to return to profitability after making a series of cuts, which included layoffs and salary reductions. From an expense of $538.9 million in last year’s quarter, GameStop is down this quarter to $453.4 million<\/strong>.<\/p>\n\n\n

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In 2021, GameStop completely reorganized its management, putting Furlong, who came from working many years at Amazon, as CEO, and Ryan Cohen<\/strong>, the founder of Chewy<\/a><\/strong>, as chairman of the board. The company’s layoffs also affected other top company officials, and its CFO was also replaced.<\/p>\n","protected":false},"excerpt":{"rendered":"

GameStop, the classic company dedicated to the sale of video games, has declared profits in its last fiscal quarter after two 2 years of losses.<\/p>\n","protected":false},"author":9256,"featured_media":217759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","wpcf-pageviews":0},"categories":[1015],"tags":[],"usertag":[],"vertical":[],"content-category":[],"class_list":["post-217758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/posts\/217758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/users\/9256"}],"replies":[{"embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/comments?post=217758"}],"version-history":[{"count":1,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/posts\/217758\/revisions"}],"predecessor-version":[{"id":321539,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/posts\/217758\/revisions\/321539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/media\/217759"}],"wp:attachment":[{"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/media?parent=217758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/categories?post=217758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/tags?post=217758"},{"taxonomy":"usertag","embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/usertag?post=217758"},{"taxonomy":"vertical","embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/vertical?post=217758"},{"taxonomy":"content-category","embeddable":true,"href":"https:\/\/cms-articles.softonic.io\/en\/wp-json\/wp\/v2\/content-category?post=217758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}