New Delhi, June 3 -- Video game retailer GameStop saw its share price jump 13% on Wednesday, 3 June, reaching $23.68, after the company reported a strong performance for its fiscal first quarter and unveiled a $2 billion share buyback programme.

The company reported net income of $389.6 million for the first quarter on Tuesday after the closing bell, compared with $44.8 million a year ago. Its operating income rose to $143.3 million.

GameStop said this marked the highest quarterly net income in its history and its strongest-ever first-quarter operating income. Overall sales climbed 14% to $835.3 million. The results were supported by lower expenses and a 65% rise in its collectibles business, which continues to evolve into a surprisingl...