GameStop Corp (GME) shares fell in after-hours trading following the release of its first-quarter results, which showed operational improvements despite a revenue decline. The company reported Q1 revenues of $732.4 million, below analyst expectations and a 17% decrease from the previous year. Net income improved to $44.8 million from a loss in the prior year. Operating losses also decreased to $10.8 million. GameStop's stock price dropped by over 3.5% after the announcement, currently trading at around $29. The company recently purchased Bitcoin for the first time, with plans to add it as a reserve asset. GameStop's cash reserves have grown significantly, enabling further Bitcoin investments. The firm acquired 4,710 BTC worth $513 million and funded the purchase through debt financing. This move aligns GameStop with other public companies investing in Bitcoin. Read more AI-generated news on: https://app.chaingpt.org/news

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