00:00It's Benzinga, bringing Wall Street to Main Street.
00:03GameStop posted first quarter earnings of $0.30 per share,
00:07beating the consensus estimate of $0.16 by 87.5%, according to Benzinga Pro data.
00:13Quarterly revenue came in at $835.3 million, topping the street estimate of $766.64 million
00:20and rising from $732.4 million in the prior year's quarter.
00:25The company reported record quarterly net income of $389.6 million
00:31and its highest first quarter operating income in company history at $143.3 million.
00:38Net sales grew 14% year-over-year driven by collectibles.
00:43The board approved a $2 billion share repurchase authorization through June 2, 2029,
00:48replacing a March 2019 authorization.
00:51Cash, marketable securities, digital assets, and related receivables totaled $9.7 billion.
00:59Shares were down by 13.53% at $23.75 in Wednesday's pre-market trading,
01:05according to data from Benzinga Pro.
01:08For all things money, visit Benzinga.com.
01:10We'll see you then.
01:10Amen.
01:11You
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