GameStop Reports Record $389.6 Million Profit, Authorizes $2 Billion Buyback Through 2029
GameStop reported first-quarter revenue of $835.3 million, up 14% from a year earlier, and net income of $389.6 million, its highest quarterly profit on record. Diluted earnings per share were $0.66, and the video-game retailer authorized a $2 billion share repurchase program through June 2, 2029.
Shares climbed as much as 13% in after-hours trading after the results. The record profit was driven by GameStop's collectibles business, while the buyback authorization gives the company scope to repurchase stock through 2029.
From the sources (5 posts)
@wallstengine$GME APPROVES $2B SHARE REPURCHASE AUTHORIZATION THROUGH JUNE 2, 2029
@polymarketmoney$GME APPROVED A $2B SHARE REPURCHASE AUTHORIZATION THROUGH 2029
@unusual_whalesGameStop, $GME, first quarter results:
@tftc21GameStop reports Q1 results. Revenue of $835.3 million, up 14% year over year. Net income of $389.6 million, the company's highest ever quarterly profit. Diluted EPS of $0.66.
@businessGameStop shares climbed as much as 13% in after-hours trading after the video-game retailer reported a record quarterly profit driven by its collectibles business