GameStop Reports Higher Q2 Profit Amid eBay Gains
GameStop reported a second-quarter net income of $298.7 million, or 51 cents per share for fiscal 2026, up from $168.6 million in the same period last year. The increase was driven by gains tied to its eBay stake and strong performance in collectibles sales. Despite a revenue decline due to store closures, absence of Nintendo Switch 2 tailwinds, and sale of its French business, GameStop raised its full-year adjusted EBITDA outlook above $650 million from the previous target of over $600 million. Collectibles accounted for nearly half of total revenue with a 57% sales increase to $356.3 million compared to last year's 23%. Video games and pre-owned segments saw significant declines, at $263.2 million and $170.7 million respectively. The eBay investment contributed significantly through an unrealized gain of $72.1 million on equity holdings and a derivative asset gain of $166.3 million. GameStop's results align with its August guidance that assumed around $238 million in net gains from the eBay position, as reported by the Wall Street Journal.
Topics: adjusted EBITDA outlook eBay investment GameStop Q2 earnings