GameStop, the world's largest video game retailer headquartered in Texas, USA, announced that it has entered into a partnership with FTX US ("FTX") to become FTX's preferred retail partner in the United States.
In addition to partnering with FTX on new e-commerce and online marketing campaigns, GameStop will begin rolling out FTX gift cards at select stores.
Specific financial information was not disclosed to the public.
Shares of GameStop rose nearly 12% to $26.84 a share in after-hours trading following the news, even though GameStop reported an almost 4% drop in net sales for the quarter to $1.14 billion.
The company reported revenue of $1.14 billion in the second quarter as of July 30. Operating loss for the quarter was $108 million compared to -$58 million a year ago.
The latest earnings data showed that its second-quarter loss was 35 cents per share on an adjusted basis, below the average Wall Street analyst estimate of 38 cents per share.
Although GameStop reported lower net...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...