GameStop Shares Surge After It Posts Surprise Profit

The videogame retailer records its first quarterly profit in two years

GameStop has been working to turn around its business.Photo: Yuki Iwamura/Bloomberg News

GameStop Corp. shares surged more than 40% after the retailer said cost cutting helped it record its first quarterly profit after seven consecutive quarters of losses.

GameStop has been working to turn around its business for close to two years under the leadership of a revamped executive team and board of directors.

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