GameStop Corp. (GME) reported its fourth-quarter 2025 financial results after the market close on March 24, 2026, delivering a mixed performance that saw shares edge lower despite strong profitability and a fortified balance sheet. The stock closed at $22.81, down 0.96%, with after-hours trading dipping further to $22.68.
The company posted adjusted earnings per share (EPS) of $0.49, significantly surpassing analyst expectations of $0.37. This marked an improvement from the $0.30 EPS reported in the same quarter a year prior. However, revenue told a different story, declining 13.9% year-over-year to $1.1 billion, which missed Wall Street's forecast of $1.47 billion.
For the full fiscal year 2025, GameStop demonstrated a dramatic turnaround in profitability. Adjusted net income soared to $647.4 million, up sharply from $131.2 million in fiscal 2024. Operating income turned positive at $232.1 million, compared to a loss in the prior year.
A key highlight for crypto observers is GameStop's continued exposure to Bitcoin. The company reported Bitcoin and related receivables valued at $368.4 million as of the quarter's end. This is a decrease from the approximately $519 million held in the previous quarter, as disclosed in Q3 filings. GameStop's overall cash and equivalents position strengthened dramatically, rising to $9.0 billion from $4.8 billion a year earlier, providing significant financial flexibility.
The earnings beat was driven by aggressive cost-cutting measures. Selling, general, and administrative (SG&A) expenses declined to $241.5 million in Q4 from $282.5 million a year ago. For the full year, SG&A dropped to $910.2 million from $1.130 billion in fiscal 2024. This cost discipline supported a rise in adjusted operating income to $289.5 million for the year.
The company's sales mix is undergoing a notable shift. The collectibles segment showed strong growth, reaching $365.0 million and accounting for 33.1% of total Q4 sales. This growth helped offset significant declines in traditional gaming segments: hardware and accessories sales fell to $535.6 million from $725.8 million, and software sales dropped to $203.7 million from $286.2 million.
Prior to the report, options traders had priced in a potential 7.98% move in either direction, below the stock's three-quarter average post-earnings swing of 10.4%. The muted price reaction suggests the market had largely anticipated the mixed results. The report was closely watched for updates on CEO Ryan Cohen's strategic pivot to reshape GameStop, though no major new initiatives or acquisition deals were confirmed.
