GameStop Corp (GME.N) beat fourth-quarter revenue projections and profited by cutting expenses and staff, driving its shares up more than 30% in extended trade.
The corporation is strengthening its internet sales to become a digital giant from its brick-and-mortar locations.
Compared to a $147.50 million deficit a year earlier, the quarter ending Jan. 31 netted $48.2 million.
According to Refinitiv, the firm generated quarterly sales of $2.23 billion, above analysts’ average projections of $2.18 billion.
GameStop Corp. sells video games, consumer electronics, and gaming gear. Grapevine-based GameStop is the world’s largest video gaming shop.
