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GameStop Wallet and NFT Marketplace revenues were not material to Q2 2022 results

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GameStop Wallet and NFT Marketplace revenues were not material to Q2 2022 results

While GameStop had a few victories with its Q2 2022 earnings report, it does not appear that the GameStop Wallet and NFT Marketplace contributed to any of them.

Ozzie Mejia

Ozzie Mejia

September 7, 2022 1:40 PMGameStop2

On Wednesday, GameStop (GME) submitted its Q2 2022 earnings report. While the company appears to be doing well from a financial standpoint, it should be interesting to note that none of its recent success appears to be stemming from the heavily touted NFT Marketplace.

The GameStop Q2 2022 earnings report issued by the company made mention of its NFT Marketplace, highlighting the digital GameStop Wallet feature and noting that it allows users to buy, sell, and trade NFTs. However, according to the SEC filing, none of this wound up contributing meaningfully to GameStop’s bottom line for Q2 2022.

Here is the statement from the aforementioned SEC filing:

As noted on the Q2 2022 earnings report, GameStop (GME) missed its revenue target of $1.27 billion USD, finishing the quarter with $1.14 billion earned. The earnings are largely attributed to collectibles. Revenue in that department increased dramatically to $223.2 million from $177.2 million in the previous quarter.

We’ll be sure to keep monitoring news from Wednesday’s GameStop (GME) earnings report. Come back to Shacknews for any further updates.

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