GameStop Corp (NYSE:GME) shares moved higher afterhours as it reported an increase in revenue for the second quarter, amid the video game retailer’s turnaround efforts.
Net sales increased to $972.2 million from $798.3 million in the year-ago quarter, handily beating Wall Street estimates of $900 million.
Earnings per share were $0.25, beating the consensus estimate of $0.19.
Net income was $168.6 million, up from $14.8 million for the previous year’s second quarter.
The company held cash, cash equivalents and marketable securities of $8.7 billion at the quarter end, up from $4.2 billion at the end of Q2 2024.
The company’s Bitcoin holdings were valued at $528.6 billion at the quarter-end.
GameStop shares added 2.6% at $24.20 post-earnings.