BUZZ-GameStop rises on revenue jump, share buyback plan

eBay Inc.
GameStop Corp. Class A
S&P 500 index

eBay Inc.

EBAY

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GameStop Corp. Class A

GME

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S&P 500 index

SPX

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** GameStop GME.N shares jump 7% in premarket trading after co posted a 14% rise in qtrly revenue and unveiled a new $2 bln share buyback program

** The videogame retailer's Q1 net sales came in at $835.3 mln, up from $732.4 mln a year ago, helped by strong demand for collectibles as co shifts focus from traditional hardware

** The new share repurchase program is authorized through June 2029; GME CEO said he remained committed to buying eBay EBAY.O, where co has a 6.6% stake

** GME stock has climbed about 4.2% year-to-date, underperforming the S&P 500's .SPX 11.2% rise during the same period


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