Video game retailer GameStop has posted its Q3 earnings on December 9th, showing a recovery from the previous year’s Q3 results, with a net income of $77.1 million. GameStop’s shares closed at a price of $22.12 on Wednesday, down by 4.28%.
Total sales were $821 million, while selling, general, and administrative expenses for the quarter were $221.4 million. Operating earnings were a positive $41.3 million, up from a loss of $33.4 million.
Cost of sales takes a sizeable chunk of revenues, comprising 66.7% of revenue. Net income was 9.4% of sales.
The company reported a slight dip in value for its Bitcoin holdings of $9.2 million from Q2 2025. GameStop’s Bitcoin holdings are now valued at $519.4 million as per the earnings report.
GameStop has turned to bond markets before to raise funds for the purpose of buying Bitcoin, previously announcing an offer of $1.75 billion in senior convertible notes in June—even though revenues from its operating retail gaming business suffered a downturn of 16.9%.
The company’s bottom line has shrunk from year to year, as part of a long-term shift for video game purchasing to e-commerce platforms from brick-and-mortar retail stores. To stay profitable, GameStop has been forced to close hundreds of stores. As of February 2025, the company operates 3,203 retail stores worldwide.