GameStop Stock Rises Amid Profit Gains and Sales Challenges

GameStop shares rose on Wednesday following the release of its third-quarter financial results, which showed a net income of $17.4 million, reversing a net loss from the previous year, despite a decline in net sales to $860.3 million, below analysts' expectations. The company ended the quarter with $4.62 billion in cash, aided by a $400 million equity offering, and does not plan further stock offerings this fiscal year. GameStop's stock has been volatile, with a 52-week range of $9.95 to $64.83.