GameStop reports $160.2 million Q2 operating income

• GameStop (NYSE:GME) reported a second-quarter operating income of $160.2 million alongside total net sales of $790.2 million.
• The company reduced its long-term debt to approximately $2.8 billion and raised its full-year adjusted EBITDA forecast to exceed $650 million.
• Management stated that a 57% year-over-year increase in collectibles sales offset revenue declines from planned store closures and divestitures.

GameStop (NYSE:GME) reported a second-quarter operating income of $160.2 million driven by a 57% year-over-year increase in collectibles sales.

Total net sales declined to $790.2 million from $972.2 million last year because of planned store closures, the divestiture of its France operations, and the prior-year launch of the Nintendo Switch 2.

The company recorded a net income of $298.7 million and lowered its selling, general, and administrative expenses to $187.1 million.

Management stated that the company ended the quarter with $5.4 billion in cash, marketable securities, and digital assets alongside a $4.9 billion investment in eBay Inc. common stock.

Following the announcement, GameStop's share price was up at $19.35.

The company executed privately negotiated exchanges to retire approximately $1.4 billion of its convertible senior notes, reducing total long-term debt to roughly $2.8 billion.

Management raised its fiscal 2026 adjusted EBITDA outlook to exceed $650 million and recast its net sales categories into collectibles, video games, and pre-owned merchandise.