GameStop (GME) Dips After Q1 Revenue Miss Despite Bitcoin Holdings

%3Cp%3EGameStop%20Corp%20%28GME%29%20shares%20dropped%20after-hours%20on%20Tuesday%20as%20the%20video%20game%20retailer%20reported%20mixed%20results%20for%20its%20first%20quarter%2C%20showing%20significant%20operational%20improvements%20amid%20a%20decline%20in%20revenue.%3C%2Fp%3E%3Cp%3EThe%20new%20Bitcoin%20%28%3Cspan%3EBTC%3C%2Fspan%3E%29%20buying%20firm%E2%80%99s%20earnings%20for%20its%20Q1%20ending%20May%203%20reported%20revenues%20of%20%24732.4%20million%2C%20lower%20than%20analyst%20estimates%20of%20%24754.2%20million%20and%20a%2017%25%20decline%20compared%20to%20its%20%24881.8%20million%20revenues%20at%20the%20same%20time%20last%20year%2C%20which%20IG%20attributed%20to%20ongoing%20challenges%20in%20physical%20game%20sales.%3C%2Fp%3E%3Cp%3EGameStop%20reported%20a%20net%20income%20of%20%2444.8%20million%2C%20up%20from%20a%20net%20loss%20of%20%2432.3%20million%20for%20the%20prior%20year%E2%80%99s%20first%20quarter.%20Operating%20losses%20also%20improved%20and%20were%20%2410.8%20million%20for%20the%20period%2C%20compared%20to%20an%20operating%20loss%20of%20%2450.6%20million%20in%20the%20first%20quarter%20of%202024.%C2%A0%3C%2Fp%3E%3Cfigure%3E%3Cimg%20src%3D%22https%3A%2F%2Fipowercrypto.com%2Fwp-content%2Fuploads%2F2025%2F06%2F01975ce6-8a84-79d1-907f-214f9dcc6704-2.jpg%22%20alt%3D%22GameStop%27s%20net%20sales%20decline%20year-on-year.%20Source%3A%20GameStop%C2%A0%22%3E%3C%2Ffigure%3E%3Ch2%3EGME%20slides%20after-hours%20on%20revenue%20miss%3C%2Fh2%3E%3Cp%3EGameStop%20shares%20dropped%20by%20over%203.5%25%20in%20after-hours%20trading%20on%20Tuesday%2C%20falling%20to%20just%20above%20%2429%2C%20according%20to%20Google%20Finance.%C2%A0%3C%2Fp%3E%3Cp%3EThe%20company%E2%80%99s%20stock%20price%20has%20been%20relatively%20flat%20over%20the%20past%20month%2C%20but%20is%20down%20around%203.8%25%20year-to-date%2C%20falling%20slightly%20after%20it%20purchased%20Bitcoin%20for%20the%20first%20time%20in%20May.%3C%2Fp%3E%3Cfigure%3E%3Cimg%20src%3D%22https%3A%2F%2Fipowercrypto.com%2Fwp-content%2Fuploads%2F2025%2F06%2F01975ce6-8e93-7c05-ada6-417709f59353-1.jpg%22%20alt%3D%22GameStock%20shares%20dip%20after-hours.%20Source%3A%20Google%20Finance%22%3E%3C%2Ffigure%3E%3Cp%3EGME%20hit%20an%20all-time%20high%20of%20just%20over%20%2480%20in%20January%202021%2C%20just%20after%20the%20previous%20crypto%20market%20bull%20cycle%20peak%2C%20and%20during%20the%20Reddit%20group%20WallStreetBets%E2%80%99%20stock%20buying%20frenzy.%C2%A0%3C%2Fp%3E%3Ch2%3ELots%20of%20available%20cash%3C%2Fh2%3E%3Cp%3EGameStop%20reported%20it%20had%20%246.4%20billion%20in%20cash%2C%20cash%20equivalents%2C%20and%20marketable%20securities%2C%20which%20has%20grown%20from%20%241%20billion%20a%20year%20ago%2C%20which%20could%20enable%20the%20firm%20to%20make%20more%20Bitcoin%20purchases.%C2%A0%3C%2Fp%3E%3Cp%3EGameStop%20has%20said%20it%20wants%20to%20add%20Bitcoin%20as%20a%20reserve%20asset%2C%20but%20it%20hasn%E2%80%99t%20specified%20how%20much%20it%20wants%20to%20buy%20in%20total%2C%20and%20has%20said%20it%20could%20sell%20its%20stash%20if%20needed.%3C%2Fp%3E%3Ch2%3EBitcoin%20buys%20began%20in%20May%3C%2Fh2%3E%3Cp%3EGameStop%20joined%20the%20ranks%20of%20the%20growing%20number%20of%20Bitcoin-buying%20public%20companies%20when%20it%20announced%20its%20first%20Bitcoin%20investment%20of%204%2C710%20BTC%2C%20worth%20around%20%24513%20million%20at%20the%20time%2C%20on%20May%2028.%3C%2Fp%3E%3Cp%3EThe%20firm%20said%20it%20would%20fund%20the%20Bitcoin%20purchase%20through%20debt%20financing%20and%20launched%20a%20%241.3%20billion%20convertible%20notes%20offering%20at%20the%20time.%C2%A0%3C%2Fp%3E

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