GameStop Q2 Profit Jumps 77% to $299M, Raises Full-Year EBITDA Outlook
GME is trading near its 52-week low of $17.79 (9.3% above the low) on light trading volume (0.3× avg).
Summary
GameStop reported Q2 net income of $298.7M, up from $168.6M a year ago, driven by a 57% surge in collectibles sales to $356M. Revenue fell to $790.2M from $972.2M due to lapping the Nintendo Switch 2 launch and store closures from the France divestiture. The company raised its full-year adjusted EBITDA outlook to over $650M from over $600M. This follows the earlier headline on collectibles strength and the ongoing hostile bid for eBay, where GameStop holds a significant stake. The raised guidance and profit beat are the key new developments for traders.
At the time of this announcement, GME was trading at $19.44 on NYSE in the Trade & Services sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $17.79 to $28.10. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.