GameStop Corp. (NYSE: GME) has reported a sharp increase in earnings for the fourth quarter of 2024 when the video game company’s sales declined.
The company posted net income of $63.1 million or $0.21 per share for the January quarter, compared to $48.2 million or $0.16 per share in the same period of last year. On an adjusted basis, net income was $0.22 per share.
Meanwhile, fourth-quarter net sales decreased 19% to $1.79 billion from $2.23 billion in the prior-year period. Cash, cash equivalents, and marketable securities were $1.20 billion at the close of the quarter.