GameStop (GME) Q4 2022 earnings

GameStop on Tuesday posted a quarterly profit for the first time in two years, finishing out the year on a high note after grappling with sales declines, inventory woes and cash flow pressure.

Shares of the company jumped about 30% during after-hours trading.

For the quarter ended Jan. 28, net sales dropped slightly to $2.23 billion from $2.25 billion in last year’s fourth quarter. The video game retailer also posted a profit of $48.2 million, or 16 cents a share, compared to a loss of $147.5 million, or 49 cents, a year ago.

GameStop did not provide financial guidance and has not…