GameStop Corp.

GameStop Discloses Second Quarter 2026 Results

GameStop posted record Q2 operating income of $160.2 million, up from $66.4 million a year ago, on net sales of $790.2 million versus $972.2 million in the prior-year quarter. The sales decline reflects the prior-year Nintendo Switch 2 launch, planned store closures, and the divestiture of the France operations. Collectibles drove the profit inflection: net sales grew 57% year over year to $356.3 million and now represent 45.1% of total sales, while adjusted EBITDA more than doubled to $174.0 million. The company raised its fiscal 2026 Adjusted EBITDA outlook to more than $650 million from a prior floor of $600 million. GAAP net income of $298.7 million ($0.51 diluted) was boosted by a $166.3 million derivative gain and a $72.1 million unrealized gain on the eBay stake, partly offset by a $75.0 million loss on digital assets; adjusted net income was $161.1 million versus $138.3 million a year ago. The balance sheet holds $5.4 billion in cash, securities and digital assets plus a $4.9 billion eBay position of roughly 43.4 million shares, and a September 3 exchange retired about $1.4 billion of 0.00% convertible notes, cutting long-term debt to approximately $2.8 billion. Safe-harbor language also references GameStop's proposed acquisition of eBay.

•1mo ago

GameStop Announces Amendment to Convertible Notes Exchange; Approximately $358.4 Million to be Settled in Cash in Lieu of Stock

GameStop amended its exchange agreements for approximately $1.4 billion in convertible notes, electing to settle the remaining consideration in cash instead of stock. Under the new terms, existing noteholders will receive roughly 55.5 million shares of common stock and $358.4 million in cash, which the company will fund from cash on hand. This action fixes the total number of shares issuable for the exchange and removes the volume-weighted average price overhang, with approximately $2.8 billion in notes remaining outstanding.

•2mo ago

GameStop Announces Private Exchange of $1.4 Billion of Convertible Senior Notes for Equity

GameStop agreed to exchange approximately $1.4 billion of its outstanding convertible senior notes for Class A common stock, reducing long-term debt by that amount. The exchange covers $400 million of 0.00% notes due 2030 and $1.0 billion of 0.00% notes due 2032, leaving roughly $2.8 billion in debt remaining. The company receives no cash proceeds, and the number of shares issued will be determined by a 35-day volume-weighted average price starting August 3.

•3mo ago

GameStop Joins Uber Eats to Deliver Video Games, Collectibles, and Electronics to Customers Nationwide

GameStop announced a partnership with Uber Eats to offer on-demand delivery of video games, consoles, accessories, and collectibles from its stores nationwide. This move integrates GameStop into Uber Eats' expanding retail marketplace, allowing customers to schedule or order gaming products for immediate delivery. The partnership aims to meet consumer demand for speed and convenience in accessing gaming essentials, marking a shift toward omnichannel retail for GameStop.

•3mo ago

GameStop Stockholders Approve Proposals at 2026 Annual Meeting, Including Increased Share Authorization

GameStop stockholders approved all proposals at the 2026 annual meeting, including an amendment to increase authorized Class A common stock with 68.7% support. The share authorization provides capacity for the company's proposed acquisition of eBay, Inc., for which it delivered a non-binding offer of $125 per share in cash and stock on May 3. GameStop currently owns 4.3 million shares of eBay and holds cash-settled derivatives on an additional 39 million shares, which now allow for physical settlement following HSR approval.

•3mo ago

GameStop Provides Fiscal Year 2026 Outlook

GameStop issued a robust FY2026 outlook, projecting Adjusted EBITDA to exceed $600 million, a significant increase from the $345.4 million reported in fiscal 2025. The company remains focused on advancing its proposed acquisition of eBay, disclosing that it currently holds 4.3 million shares directly and has economic exposure to an additional 39 million shares through derivatives. GameStop confirmed that the HSR Act waiting period was satisfied on June 3, 2026, unlocking the option for physical settlement of its derivatives positions, following a prior non-binding offer of $125 per share paid in cash and stock.

•4mo ago

GameStop Discloses First Quarter 2026 Results

GameStop reported record Q1 2026 results with net income of $389.6 million, a massive increase from $44.8 million a year ago, driven by a $268.4 million unrealized gain on derivatives tied to eBay and strong collectibles sales. Core operating performance also improved significantly, with net sales rising 14% to $835.3 million and operating income turning positive at $143.3 million, compared to a $10.8 million loss in the prior year. The company ended the quarter with $9.7 billion in liquid assets and authorized a new $2.0 billion share repurchase program, reinforcing its shift toward capital return and strategic transformation.

•5mo ago

GameStop Proposes to Acquire eBay at $125.00 Per Share

GameStop submitted a non-binding proposal to acquire eBay for $125.00 per share in cash and stock, valuing the target at approximately $55.5 billion. The offer represents a 46% premium to eBay’s unaffected closing price and is backed by a highly confident financing letter for up to $20 billion from TD Securities. GameStop projects $2 billion in annualized cost synergies and announced that Ryan Cohen would serve as CEO of the combined company.

•6mo ago