On Wednesday, GameStop (NYSE:GME) announced a smaller-than-anticipated Q2 loss due to cost-cutting measures that helped mitigate the extent of their losses.
The company revealed an adjusted loss of $0.03 per share, with revenue totaling $1.16 billion, surpassing the expectations of Wall Street analysts who had predicted an adjusted loss of $0.14 per share and revenue of $1.14 billion.
During the quarter, the company reduced its selling, general, and administrative expenses from $387.5 million in the previous year to $322.5 million.
Furthermore, GameStop’s inventory for the quarter decreased from $179.5 million in the same period the previous year to $83.5 million.
