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GameStop Rallies After Cost-Cutting Progress Renews Optimism

A GameStop Corp. Store As Earnings Figures Released
Photographer: Daniel Acker/Bloomberg
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GameStop Corp. jumped as much as 15% Friday after earnings handily beat analysts’ estimates, a sign that efforts to slash costs and shrink the ailing retail chain are paying off.

Fourth-quarter earnings amounted to $1.27 a share, excluding some items, the video-game seller said on Thursday. Even the most optimistic Wall Street analysts weren’t expecting more than 95 cents a share.