GameStop Corp (NYSE:GME) shares moved higher afterhours as the video game retailer posted a fourth quarter earnings beat.
For the quarter, which ended on February 1, GameStop saw its adjusted earnings per share increase to $0.30 from $0.22 in the year-ago quarter, far exceeding the $0.08 expected by analysts.
Revenue of $1.28 billion, however, was short of the $1.48 billion expected.
Additionally, GameStop announced it would be updating its investment policy to include Bitcoin as a treasury reserve asset.
No further details about the changes to GameStop’s investment policy were provided.
Shares of GameStop added 6.3% at $27 following the release of its report.