GameStop, the famous video game and collectibles store, has been through incredibly difficult times in recent years. While this situation has left incredible things behind, it is also a nightmare for the store. Fortunately there is a bit of light now, as they have just reported earnings for the first time in 2 years.
This Tuesday GameStop reported its financial report for the quarter that ended on January 28. There he pointed out that, despite the fact that its total sales had an annual drop from $2.23 MMDD to $2.25 MMDD, the store reported million-dollar profits.
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To be exact, GameStop reported earnings of $48.5 million, or $0.16 USD per share. It may not sound like much, but it’s an incredible comeback when we consider that in the same period last year it reported losses of $147.5 million.
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As you can imagine, this news was also reflected in the value of GameStop shares, which rose 35%. With this, the company’s shares reached a value of approximately $18 USD. This is a far cry from the $50 per share that it reached years ago thanks to memes, but it’s a good situation.
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What do you think about this new? Do you think this is the beginning of a new era for GameStop? Tell us in the comments.
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