In its fiscal first-quarter earnings report, which was released Wednesday, the company reported revenue of $1.38 billion, up slightly from the year-ago quarter.
The year-ago quarter had a net loss of $66 million.
The key numbers are here.
In after-hours trading, shares fluctuated between positive and negative.
48.9% of all sales came from hardware like game consoles and accessories. In the year-ago quarter, that was up from the year-ago quarter. It made $483.7 million on software, down from $397.9 million in the year-ago quarter, and $220.9 million on collectibles, up from $175.4 million in the first quarter of the year.
The company's strength in collectibles this quarter compared to the previous year may indicate why it's leaning into non-fungible token (NFTs), which have become a new type of digital souvenir that users can collect and resell. NFTs are digital items or artwork that are tied to the ledger so the original version can be verified.
The company has said that it will launch an NFT marketplace by the end of the current quarter, and that it will release its expected timeline on Wednesday. The recent launch of a digital asset wallet that will allow users to send a receive the token has prompted GameStop to take steps to support it.
Since the beginning of the Pandemic, the company has not provided a financial outlook. In March, the CEO said that it was prudent to provide guidance during the early stages of the transformation.
There is a developing story. You can check back for updates.
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