GameStop’s first profitable quarter in two years sends stock soaring

Posted on AllSides March 21st, 2023
From The Center

Grapevine-based GameStop Corp. reported a surprise profit in the fourth quarter and beat analysts’ estimates for revenue, sending its shares soaring as much as 39% in extended trading Tuesday. Net income was $48.2 million, the first profit in two years, and compared with a loss of $147.5 million a year earlier, the video game retailer said. Earnings per share were 16 cents, compared with a loss of 49 cents a year earlier. Net sales fell 1.2% to $2.23 billion in the three months ended Jan. 28, but that was higher...

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https://dallasnews.com/business/local-companies/2023/03/21/gamestops-first-profitable-quarter-in-two-years-sends-stock-soaring

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