GameStop reports surging Q2 profit driven by eBay investment

GameStop has released preliminary second-quarter figures for 2026 showing a significant surge in net income despite a sharp decline in net sales. The company expects net income to fall between $290 million and $310 million, driven largely by approximately $238 million in gains from its investment in eBay.

Net sales are projected to be between $780 million and $800 million, a decrease from the $972.2 million reported in the same quarter last year. GameStop attributed the revenue drop to several factors, including a high comparison base from Nintendo Switch 2 sales in the previous year, planned store closures, and the divestiture of its French operations.

Despite the lower revenue, operating income is expected to rise significantly to between $150 million and $170 million, compared to $66.4 million in the prior-year period. The company also noted a $75 million loss related to digital assets and receivables. Additionally, GameStop is modifying the terms of its multi-billion dollar bond exchange to include a cash component.