GameStop Posts Smaller Q2 Net Loss, Aided by an Unrealized Bitcoin Gain and Higher Sales and Liquidity - The Cryptocurrency Post

GameStop stock soars amid stark rise in revenue and Bitcoin investment

GameStop has had a tumultuous few years as the gaming industry has shifted its focus to digital services, forcing the video game retailer to shut down stores and overhaul its business strategy. The company reported its second quarter earnings Sept. 10, showing a stark increase in sales and revenue – far surpassing Wall Street's expectations.

GameStop posts smaller Q2 net loss, aided by an unrealized Bitcoin gain and higher sales and liquidity - The Cryptocurrency Post

GameStop reported a significantly smaller net loss in the second quarter, supported by an unrealized gain of $28.6 million in Bitcoin. The company also recorded higher sales and liquidity compared to last year, a development with implications for investors and digital asset operators. According to the earnings release, part of the improvement is due to the accounting impact of digital assets. Results and Bitcoin Impact GameStop posted net sales …