GameStop Corp (NYSE:GME) shares popped in extended trading Wednesday as the video game retailer turned meme stock beat analysts’ expectations.
The company posted revenue of $1.16 billion for the quarter ended July 29, up from $1.14 billion a year earlier and ahead of expectations of $1.14 billion. Its adjusted loss of $0.03 per share was narrower than the $0.14 called for by analysts.
Software sales jumped to $397 million from $316.4 million in the same quarter of 2022. Hardware and console sales were nearly flat at $597 million, while sales of collectibles declined to $169.8 million from $223.2 million.
It might not have reached the moon, as they say on Reddit, but GameStop stock bounced more than 11% higher after hours to $20.97.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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