High Profits

Video game retailer GameStop has released its latest quarterly report, and it was a banner period for the company. GameStop posted a quarterly profit of $389.6 million for its fiscal Q1, and that was the highest-ever quarterly profit in the company's history. This compares to a profit of $44.8 million for the same period last year. Revenue surged as well, rising from $732.4 million during Q1 last year to $835.3 million this year. GameStop also continued to cut costs, with selling, general, and administrative costs falling from $228.1 million to $201.6 million. GameStop's stock price is surging