05:29 AM EDT, 03/26/2025 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

GameStop ( GME ) shares were up more 11% in premarket activity on Wednesday after the company reported overnight fiscal Q4 earnings increased and approval bitcoin cryptocurrency can be used as a treasury reserve.

The company reported fiscal Q4 adjusted earnings of $0.30 per diluted share Tuesday, up from $0.22 a year earlier.

Two analysts polled by FactSet expected $0.08.

Net sales for the 13 weeks ended Feb. 1 fell to $1.28 billion from $1.79 billion a year earlier.

Two analysts surveyed by FactSet expected $1.48 billion.

The company also announced that its board unanimously approved an update to its investment policy, allowing bitcoin to be added as a treasury reserve asset.