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GameStop Shares Surge on Strong Earnings, Crypto Strategy Unmentioned
GameStop Shares Surge on Strong Earnings, Crypto Strategy Unmentioned
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BTCCSquare news:
GameStop (GME) shares climbed 5% after the retailer reported fiscal Q2 earnings that surpassed analyst expectations. EPS of $0.25 beat the $0.19 consensus, while revenue reached $972.2 million—a 22% YoY increase—exceeding the $900 million forecast.
Hardware and accessories drove growth, with segment sales jumping 31% to $592.1 million. Collectibles revenue soared 63% to $227.6 million, offsetting a 27% decline in software sales. The Nintendo Switch 2 launch was cited as a key catalyst.
Despite maintaining $8.7 billion in cash reserves, the company made no reference to cryptocurrency initiatives in its earnings report—a notable omission given the gaming sector's increasing blockchain integrations.
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