GameStop Corp (NYSE:GME) shares fell 5.4% afterhours as its third quarter sales fell short of Wall Street expectations.
The company reported net sales of $821 million for the period, down from $860.3 million in the third quarter of 2024 and below the FactSet consensus of $987.3 million.
Adjusted earnings per share (EPS) of $0.24, however, beat estimates of $0.20 by $0.04.
Net income for the quarter rose to $77.1 million from $17.4 million in the same period last year.
Operating income for the quarter was $41.3 million, compared with an operating loss of $33.4 million a year earlier.
On an adjusted basis, excluding impairment and other items, operating income was $52.1 million, versus an adjusted operating loss of $24.6 million in the prior-year quarter.
GameStop ended the quarter with $8.8 billion in cash, cash equivalents, and marketable securities, up from $4.6 billion a year earlier.
Bitcoin holdings were valued at $519.4 million at the end of the period.