Published , by Donovan Erskine
Published , by Donovan Erskine
GameStop (GME) has shared its Q1 2022 earnings report, which revealed the retailer’s financial performance over the past few months. It also provided further insights to the different aspects of GameStop’s business, which extends beyond the sale of games. It was here that we learn GameStop’s collectibles revenue was up 25 percent compared to Q1 of last year.
The details on GameStop’s (GME) collectibles revenue is found in its Q1 2022 earnings report. Over the previous quarter, the company reeled in $221 million in revenue from its collectibles business. This marks a sharp 25 percent increase in year-over-year comparisons.
If you’ve been in a GameStop store anytime in the last couple of years, you’ve probably noticed the business’ increase in collectibles, toys, and similar items. As more gamers look to digital markets, GameStop has been beefing up its physical offerings in-store. Looking at the information found in the report, it seems to be a model that’s working out quite well for them.
Following the release of GameStop’s (GME) Q1 2022 earnings report, the stock was actually up in after-hours trading, a change from recent patterns with the stock. It soared to a peak value of $132 per share, before it made its way back down to $121.11. This was likely impacted by the company beating revenue expectations, despite also taking a loss.
The collectibles revenue increase is just one nugget of information to come out of GameStop’s Q1 2022 earnings report, which included the fact that 12.7 million of the company’s shares are directly registered. For the latest GME news, Shacknews has you taken care of.