The videogame retailer just reported its first profitable quarter since the beginning of 2021.
GameStop GME +4.62% reported a surprise profit in the fiscal fourth quarter, sending the stock soaring in late trading Tuesday.
The company reported earnings of 16 cents a share, compared to a loss of 49 cents a year earlier. Analysts polled by FactSet had forecast a non-GAAP loss of 13 cents a share, or 16 cents a share on a GAAP basis. Sales of $2.23 billion topped estimates at $2.18 billion.
The videogame retailer just reported its first profitable quarter since the beginning of 2021.
The videogame retailer recorded its first quarterly profit in two years.
(Reuters) -GameStop Corp on Tuesday posted a surprise profit for the fourth quarter, its first since early 2021, as lower costs…
Meme stock GameStop Corp jumped nearly 50% in early trading on Wednesday as the video game retailer's first profitable quarter in…
GameStop has also been targeting profitability by reining in expenses and focusing on higher-margin collectibles and pre-owned…
The videogame retailer's shares were on track for their best day since 2021 after the firm reported a surprise quarterly profit.
