GameStop Posts Record Q2 Operating Income, Raises FY26 EBITDA Outlook to $650M+
GME is trading near its 52-week low of $17.79 (8.7% above the low).
Summary
GameStop reported record Q2 operating income of $160.2M, raised FY26 Adjusted EBITDA guidance to $650M+, and disclosed $5.4B in liquid assets plus a $4.9B eBay stake.
Key Events · Earnings and Guidance · GME
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Record Q2 Operating Income
Operating income of $160.2M was the highest second quarter in GameStop's history, up from $66.4M in the prior year's Q2.
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Collectibles Drive Growth
Collectibles net sales grew 57% YoY to $356.3M, now representing 45.1% of total net sales versus 23.4% a year ago.
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FY26 Guidance Raised
Adjusted EBITDA outlook increased to in excess of $650M, up from the prior outlook of in excess of $600M provided on June 26, 2026.
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Strong Liquidity Position
Cash, equivalents, marketable securities, digital assets and related receivables totaled $5.4B, with an additional $4.9B fair value in eBay common stock (43.4M shares).
Analysis · GME · Trade & Services
GameStop delivered its strongest second quarter ever, with operating income of $160.2 million — more than double the prior year's $66.4 million. The collectibles segment is now the company's largest revenue driver at 45.1% of net sales, growing 57% year over year. Management raised full-year Adjusted EBITDA guidance to over $650 million, up from $600 million, signaling confidence in the transformation strategy. The balance sheet remains fortress-like with $5.4 billion in liquid assets and a $4.9 billion stake in eBay, even after retiring $1.4 billion of convertible debt. This earnings report lands amid GameStop's ongoing hostile bid for eBay, and the strong cash position and improved profitability strengthen the company's hand in that campaign.
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In the 30 days to Sep 10, 2026, 35.8% of the 1864 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, GME was trading at $19.34 on NYSE in the Trade & Services sector, with a market capitalization of approximately $8.6B. The 52-week trading range was $17.79 to $28.10. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.