The US video game retailer GameStop posted strong business growth in the second quarter thanks to the recovery from the Corona crisis. Sales increased year-on-year by a good quarter to 1.18 billion dollars (1.0 billion euros), as the company announced on Wednesday after the US market closed. GameStop reduced the loss from $ 111.3 million to $ 61.6 million. Analysts had nevertheless expected a better result.

GameStop made headlines at the beginning of the year due to unusual price capers on the stock exchange. Although the company had been in the red for years, shares had rallied spectacularly, fueled by retail investors organized on the Internet. That broke hedge funds that were betting against GameStop, huge losses. In January the stock hit a record high of over $ 483. Most recently it was quoted at $ 199, which is still a price increase of over 950 percent since the beginning of the year.

GameStop shares ultimately lost 0.03 percent to $ 198.77 in US trading on the NYSE. / GRAPEVINE editorial team (dpa-AFX)

More news about GameStop Corp.

Image sources: Casimiro PT /, JIM WATSON / AFP via Getty Images

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.