GameStop's third quarter report: net loss of $94.7 million, will not risk shareholder capital in the encryption market

GameStop's latest quarterly report shows that third-quarter revenue fell slightly to $1.186 billion from $1.297 billion in the same period last year, with an overall net loss of $94.7 million. As of the end of the quarter, its cash, cash equivalents, and marketable securities were $1.042 billion. Most of GameStop's revenue comes from hardware and accessories, which amounted to $627 million, accounting for 52.8% of GameStop's total revenue for the same period, while software ($352.1 million) and collectibles ($207.3 million) accounted for 29.7% and 17.5% of total revenue, respectively. GameStop CEO Matt Furlong confirmed the latest round of layoffs, though he noted that some employees also left voluntarily. Furlong did not mention any further investments in the crypto space, stating that GameStop no longer holds any crypto token balances and that GameStop has not and will not risk shareholder capital in this space.