GameStop Corp. (NYSE:GME) posted its first-quarter results after Tuesday’s closing bell, beating estimates and highlighting record quarterly net income.

Here's a look at the details inside the report. 

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GameStop Q1 Details       

GameStop reported quarterly earnings of 30 cents per share, which beat the consensus estimate of 16 cents by 87.5%, according to Benzinga Pro data.

Quarterly revenue came in at $835.3 million, which beat the Street estimate of $766.64 million and was up from $732.4 million in the prior year’s quarter.

The board of directors approved a $2 billion share repurchase authorization through June 2, 2029, replacing the prior authorization from March 2019.

GameStop highlighted the following quarterly metrics:

• Highest quarterly net income in GameStop’s history of $389.6 million.
• Highest first quarter operating income in GameStop’s history of $143.3 million.
• Net sales grew 14% year-over-year, driven by collectibles.
• Cash, marketable securities, digital assets and related receivables, and collateral pledged for derivative assets of $9.7 billion.

GME Stock Price Activity: According to data from Benzinga Pro, GameStop stock climbed 7.36% to $22.46 in Tuesday's extended trading.  

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