GameStop Reports Third Quarter Loss of $488.6 Million, Increase in New Game Sales

GameStop has released its third quarter fiscal report, which ended on Nov. 3, showing an overall net income loss of $488.6 million.

The report included the recent sale of Spring Mobile – one of GameStop Corp's owned companies – which brought in approximately $700 million.

GameStop previously said they would, “pay off debts, fund share repurchases, reinvest in core video game and collectibles businesses to drive growth, or some combination of these options," with the funds from Spring Mobile.

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