GameStop Stock Soaring After Best Buy Results
Shares of videogame retailer GameStop (GME) - Get Report were getting a boost by 3.48% to $23.50 in premarket trading on Thursday, after electronics retailer Best Buy (BBY) - Get Report credited strong gaming sales in its latest earnings results.
Best Buy's first quarter results came in above expectations.
"Compared to our expectations going into the quarter, our revenue was higher due to strong performance in gaming, a better-than-expected result in mobile, and the improvement of overall sales trends due to the arrival of delayed federal tax refund checks," Best Buy CEO Hubert Joly said.
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