GameStop shares fall as first earnings report released since Reddit-led rally

Shares, which had fallen 6.5% during the day, briefly gained 8% in after-hours trading before dropping more than 15%

GameStop released its first earnings report on Tuesday since it became the subject of international attention during a Reddit-fuelled buying rally and named the former Amazon and Google executive Jenna Owens as its new chief operating officer.

The company's sales and profit figures were slightly lower than analysts had expected and its shares, which had fallen 6.5% during the day, briefly gained 8% in after-hours trading before dropping more than 15%.