GameStop (GME) published fiscal first-quarter earnings that showed increased revenues and a decrease of losses.
Revenue in the first quarter was $1.28 billion, compared to $1.17 billion predicted and $1.02 billion in the same time previous year.
Adjusted loss per share in Q1 was 45 cents, compared to 71 cents projected and $1.61 year over year.
The company also announced the appointment of two Amazon veterans as chief executive officer and chief financial officer.
It also announced plans to sell 5 million more shares in order to obtain funds.
Following the announcement, the stock dropped as much as 14%, and it remained as much as 5% lower in the after-hours session.