GameStop Stock Jumps After Company Reports Quarterly Profit

Mar 22, 2023 thejournalbiz

Shares of GameStop surged in after-hours trading Tuesday after the videogame retailer swung to a profit in its latest quarter.

The stock was recently up more than 30% in late trading. It closed the regular session up nearly 5%.

Tweet on Gamestops shares

GameStop Stock Jumps After-Hours After Company Reports Quarterly Profit!
Shares of GameStop surged in after-hours trading, as the stock was recently up more than 30% in late trading. #GameStop #stockstowatch pic.twitter.com/7uEKdYgnzW

— The_Journalbiz (@the_journalbiz) March 22, 2023

Factset Chart

The company posted net income of $48.2 million in the fourth quarter that ended Jan. 28 compared to a loss of $147.5 million a year earlier. Sales declined to $2.23 billion compared to $2.25 billion in the prior year period.

GameStop’s stock price skyrocketed at the start of 2021 after a social-media-fueled trading frenzy.