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GameStop Corp. (NYSE:GME) shares jumped 6% in after-hours trading Tuesday after the company reported stronger-than-expected Q4 earnings and announced plans to adopt Bitcoin as a treasury reserve asset. The bold crypto move follows a recent executive order by U.S. President Donald Trump to establish a strategic Bitcoin reserve, signaling growing institutional interest.
GameStop posted adjusted earnings per share of $0.29 for the quarter ended February 1, 2025—sharply beating Wall Street estimates of $0.09. Despite this earnings surprise, revenue dropped 28.5% year-over-year to $1.28 billion, missing expectations of $1.5 billion.
Net income more than doubled to $131.3 million from $63.1 million a year earlier, driven by aggressive cost-cutting and a shift to higher-margin products. GameStop’s hardware and accessories division took the biggest hit, with sales down 33.7% to $725.8 million. Software sales also fell 38.5% to $286.2 million. However, the collectibles segment surged 15.8% to $270.6 million, offering a bright spot amid declining core revenue.
For full-year fiscal 2024, the video game retailer reported net income of $131.3 million on $3.82 billion in revenue, compared to just $6.7 million in profit on $5.27 billion in revenue in 2023.
Notably, GameStop ended the quarter with a massive $4.77 billion in cash and marketable securities, up from $1.2 billion last year—thanks largely to proceeds from stock offerings. The board’s unanimous decision to diversify its treasury with Bitcoin reflects a growing trend among public companies exploring digital assets as a hedge and reserve strategy.
With crypto momentum and a surprise earnings beat, GameStop is back in the spotlight—this time with more than just meme stock hype.
