Key facts
- GameStop reported a record quarterly profit.
- Sales rose to $835.3 million, driven by collectibles.
- The company launched a $2 billion share buyback program.
GameStop Corp. announced a record quarterly profit, with sales increasing to $835.3 million, primarily driven by its collectibles business. The company also revealed plans to launch a $2 billion share buyback program. This news led to a significant rise in GameStop's stock, with shares climbing as much as 13% in after-hours trading. The company's strategic focus on collectibles appears to be a key driver of its improved financial performance, contrasting with declining revenues from hardware and software sales.