GameStop Reports Strong Q1 Earnings and Announces $2 Billion Buyback Program
GameStop reported a 14% year-over-year increase in net sales to $835.3 million for its fiscal first quarter, driven by strong performance from its collectible business segment which saw a 65% rise in revenue. The company also announced a $2 billion stock buyback program following an adjusted net income surge of 145%. These developments contributed to a 6.02% increase in GameStop's share price.
Tickers: $GME
Topics: collectibles retail stock_buybacks video_games