Adjusted for one-time items, GameStop lost $29.4 million, or 45 cents a share.
GameStop said that current-quarter sales “continue to reflect momentum,†with May sales up about 27% from May 2020.
Analysts polled by FactSet expected GameStop to report an adjusted loss of 82 cents a share on sales of $1.16 billion.GameStop also said it plans to file plans with securities regulators to sell up to 5 million shares, “from time to time, in ‘at-the-market’ offerings.â€.
The retailer said it had $770.8 million in cash and restricted cash as of May 1.GameStop raised nearly $552 million in net proceeds through the sales of 3.5 million shares in April