GameStop's Q3 2023 earnings report revealed the company has a healthy amount of cash on hand.
GameStop (GME) reported its Q3 2023 earnings on Wednesday, December 6, 2023. While the company did miss revenue estimates, it ended the quarter with $1.2 billion in cash and marketable securities.
In the condensed consolidated balance sheets portion of the earnings report, GameStop revealed that in Q3 2023 it held $909 million in cash and a cash equivalents, plus $300.5 million in marketable securities. This adds up to just over $1.2 billion. By comparison, GameStop held just over $1 billion in cash and cash equivalents plus marketable securities in Q3 2022.
Beyond the specific numbers, GameStop didn’t add much context. The company didn’t release a statement about the results beyond a single sentence in their earnings report, stating, “The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-Q.” This does not come as a surprise, as GameStop hasn't held a conference call for its earnings reports in 2023.
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