GameStop Corp. (NYSE:GME) traded higher in post-market trading on Tuesday after disclosing its Q2 earnings report and updating on its Bitcoin (BTC-USD) holdings.
Revenue rose 21.8% year-over-year for the quarter that ended on August 3 to $972.2 million. Hardware and accessories sales accounted for 60.9% of total sales vs. 56.5% a year ago, while software sales fell to 15.7% of the mix from 26.0% last year. Collectibles revenue was up to 23.4% of the total vs. $17.5 a year ago.
The Grapevine, Texas-based company said selling, general, and administrative expenses were 22.5% of sales, compared to 33.9% of sales a year ago. Cost of sales rose to 70.9% of total sales, vs. 68.8% a year ago.
GameStop (NYSE:GME) swung to an operating income profit during the quarter and recorded net income of $168.6 million. EPS was $0.25 for the quarter, vs. $0.15 consensus and $0.04 a year ago.
On the balance sheet, GameStop (NYSE:GME) ended the quarter with $8.7 billion in cash, compared to $4.2 billion at the end of its second quarter a year ago and its market cap of about $10.5 billion.
On the crypto front, the company disclosed that it held Bitcoin (BTC-USD) holdings valued at $528.6 million at the close of the second quarter.
As usual, GameStop (GME) does not have an earnings conference call scheduled.
Shares of GameStop (GME) gained 2.4% in postmarket trading after adding 0.4% during the regular session. The stock is down about 25% on a year-to-date basis.