GameStop Shares Soar 12% Following Q2 EPS Beat, Revenues Miss Estimates

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GameStop (NYSE:GME) shares surged more than 12% after-hours following the company’s reported Q2 results, with EPS of ($0.36) coming in better than the consensus estimate of ($0.42).

Revenue came in at $1.136 billion (vs. $1.183 billion in Q2/21), missing the consensus estimate of $1.27 billion.

Sales attributable to collectibles, which is a segment the company intends to grow over the long-term, came in at $223.2 million in Q2, compared to $177.2 million in Q2/21.