From Barchart: 2025-03-26 12:40:00

GameStop (NYSE:GME) saw its shares surge 14% today after announcing plans to invest in Bitcoin and reporting a significant increase in quarterly profit, despite lower revenue and ongoing store closures.

The retailer’s board approved a strategy to allocate cash and future capital into Bitcoin, aiming to diversify its balance sheet amid retail challenges.

GameStop closed 590 U.S. stores in fiscal 2024, exited the Italian market, and downsized operations in Germany.

In the fourth quarter, net income more than doubled to $131.3 million, driven by cost-cutting measures, while revenue declined to $1.28 billion from $1.79 billion a year ago.

For the full year, net sales dropped to $3.82 billion from $5.27 billion in fiscal 2023, reflecting industry shifts towards digital game downloads.



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