3/21, 9:07 PM (Source: TeleTrader)
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Chart for: GameStop Corp

GameStop sees Q4 net income of $48.2 million

GameStop Corp. announced on Tuesday its revenue in the fourth quarter of the fiscal year 2022 saw an annual decline of 1.24% to reach $2.226 billion. On the other hand, the company scored a net income of $48.2 million compared to a net loss of $147.5 million registered in the same trimester in 2021. It reported diluted earnings per share (EPS) of $0.16 per share in contrast with losses per share of $0.49 seen year-on-year.

In the entire fiscal year 2022, GameStop's sales came in at $5.927 billion, down by 1.38% compared to 2021. Its net loss decreased by 17.89% to $313.1 million. Meanwhile, its diluted losses per share went from $1.31 per share in 2021 to $1.03 per share in 2022.

Following the release of the report, GameStop's shares surged by 33.24% in after-hours trading.

Baha Breaking News (BBN) / JR