GameStop Corp.

GameStop Corp. reported second-quarter net income of $298.7 million, up from $168.6 million a year earlier, even as revenue fell to $790.2 million from $972.2 million, according to a Wall Street Journal report on September 8, 2026. The video-game retailer raised its full-year adjusted EBITDA outlook to more than $650 million from a prior target of more than $600 million. Collectibles revenue jumped 57% year over year to about $356.3 million, now representing 45.1% of total sales and helping push gross margin to 43.7% from 29.1% a year earlier. Adjusted EBITDA rose to roughly $174 million from $75.7 million, and operating income reached $160.2 million, the highest for any second quarter in company history. The quarter's net income was boosted by approximately $238 million in net gains related to GameStop's equity stake in eBay, while a roughly $75 million loss on digital assets and related receivables showed the swing from its investment portfolio. Video-game revenue fell to about $263.2 million from $494.6 million a year earlier, and the company retired approximately $1.4 billion of convertible notes, reducing long-term debt to about $2.8 billion.

Uber Technologies CEO Dara Khosrowshahi purchased 141,000 shares at an average price of roughly $70.96 per share, a transaction totaling just over $10 million that leaves him holding roughly 1.4 million shares. The buy came alongside Uber's latest quarterly results, which showed Gross Bookings climbing 24% year over year to $58 billion and revenue rising 12% to $14.2 billion, while Trips grew 18% to 3.9 billion and Monthly Active Platform Consumers rose 16%. Adjusted EBITDA jumped 33% to $2.8 billion and operating income climbed 40%, with free cash flow of $2.8 billion pushing trailing twelve-month FCF above $10 billion for the first time in the company's history. Other chief executives also stepped up: GameStop CEO Ryan Cohen bought 1 million shares at an average price of roughly $20.38, a transaction totaling nearly $20.4 million that leaves him directly holding more than 39.3 million shares, and Celsius CEO John Fieldly purchased 18,000 shares at an average price of roughly $27.44, a transaction totaling just under $500,000 that brings his direct holdings to more than 956,000 shares.

Ryan Cohen, the billionaire President, CEO and Chairman of GameStop Corp, purchased 1.0 million shares of the company for $20.4 million, according to an SEC Form 4 filing. The shares were acquired in multiple transactions at prices ranging from $20.0199 to $20.4699 per share, for a weighted average cost of $20.38. The purchase raised Cohen's total direct holdings to 39,347,842 shares from 38,347,842 shares, a stake valued at $802.3 million based on the Sept. 10, 2026 market close of $20.39. Total insider ownership of GameStop now stands at 9%, with Cohen remaining a primary holder of the outstanding equity. The company recently reported a 77% jump in second-quarter net income, with a large increase in overall revenue as well.

GameStop shares rose 4% to $19.59 in Wednesday trading after the company reported a fiscal second-quarter earnings beat, a 57% jump in collectibles sales, and a same-day insider purchase by director Lawrence Cheng. Adjusted earnings per share came in at $0.27, above the consensus estimate of $0.19, while collectibles net sales surged to $356.3 million, helping drive record second-quarter operating income and a raised full-year adjusted EBITDA outlook. The gains are stock-specific, as the VanEck Video Gaming and eSports ETF fell 1% and peers Take-Two and Roblox offered no lift. Cheng purchased about $1.03 million of shares through Cheng Capital LLC on the day results were published, adding to the positive sentiment. Despite the rally, GameStop stock remains down 2% year to date, and the company held no earnings call, leaving the mix shift toward higher-margin collectibles as the key story for investors to watch.

Oracle and Adobe headline a relatively light but notable earnings week, with both reporting Thursday and offering fresh reads on enterprise AI spending and cloud demand. Oracle is expected to show continued strength in its AI-driven backlog, having guided to 27%-29% revenue growth for the quarter, while Adobe faces questions on AI monetization and a leadership transition. Other major reports include GameStop on Tuesday, Chewy on Wednesday, and Kroger on Friday, alongside retail names like Macy's and American Eagle Outfitters. GameStop pre-announced Q2 net income of $290M to $310M, with about $238M from eBay stock gains, while Kroger's results will be watched for consumer trends after its $1.65B Giant Eagle acquisition.

GameStop announced it has amended agreements with certain noteholders to exchange and cancel about $1.40 billion of its convertible notes due 2030 and 2032, a move that retires significant debt while increasing share dilution. Under the revised terms, noteholders will receive approximately 55.5 million GameStop shares and $358.40 million in cash, funded from existing cash reserves, instead of the original all-stock settlement. The company, which has a market capitalization of $8.25 billion, reported a 14% year-over-year revenue increase to $835.30 million for the quarter ended May 2, driven by a 65% surge in collectibles revenue to $348.90 million, now its largest segment. Net income soared 769.6% to $389.60 million, boosted by $268.40 million in unrealized gains on derivative assets tied to eBay. For the second quarter ended Aug. 1, GameStop expects net sales between $780 million and $800 million, down from $972.20 million a year earlier, but projects operating income of $150 million to $170 million and net income of $290 million to $310 million, including about $238 million in gains from its eBay investment. The company also converted its eBay derivative position into a direct stake of approximately 43.4 million shares, valued at about $4.95 billion, as of Aug. 1.

GameStop enters its Sept. 8 earnings report with a profit surge driven more by its investment portfolio than its video game stores. Preliminary results show fiscal second-quarter net income of $290 million to $310 million, up from $168.6 million a year earlier, but roughly $238 million in net gains came from GameStop's equity stake and derivative positions in eBay, partly offset by a $75 million loss on digital assets. As of Aug. 1, GameStop owned 43.4 million eBay shares valued at $4.95 billion, making eBay's stock performance a major earnings driver. Meanwhile, quarterly sales are expected to fall to between $780 million and $800 million from $972.2 million last year, a decline of roughly 18% to 20%, due to store closures, the sale of French operations, and a difficult comparison with last year's Nintendo Switch 2 launch. Operating income is expected to reach $150 million to $170 million, up from $66.4 million, but investors must separate sustainable operating improvement from market gains that could reverse if eBay shares weaken. GameStop ended the first quarter with $8.4 billion in cash and marketable holdings, authorized a $2 billion buyback program through June 2029, and used $358.4 million in cash and stock to exchange convertible notes.

GameStop shares rose after the company released preliminary second-quarter results showing profits well above expectations, driven by a conversion of its derivative position in eBay into shares. The gaming retailer expects profits between $290 million and $310 million, up from $168 million a year ago, with the eBay conversion alone booking $238 million. GameStop now holds more than 43 million eBay shares worth nearly $5 billion. However, net sales are expected to decline to $780 million to $800 million from $972 million last year, and the company also anticipates a loss on its crypto holdings. The preliminary results were announced alongside an amendment to its $1.4 billion debt-for-stock swap, which fixes the share count. Final results are due on September 8th.

PG&E and Edison International tumbled 19% and 24%, respectively, after California lawmakers blocked a proposal that would have limited payouts from utilities whose equipment sparked wildfires, prompting downgrades from analysts. Apple slipped nearly 2% on reports that App Store chief Phil Schiller is stepping down, while Howmet Aerospace fell over 8% after SpaceX said it would make turbine parts in-house. Herbalife dropped 13% on its CEO's departure, and Aon slid over 7% after agreeing to buy USI Insurance Services for $17 billion. Eli Lilly fell over 1% after announcing a $2.9 billion acquisition of Merida Biosciences, while GameStop rose 3% on preliminary results showing higher income. Deere and AGCO gained over 3% on an upgrade from Baird.

In premarket trading, Chevron and other energy stocks rose as U.S. oil prices climbed more than 3% following U.S.-Iran strikes in the Middle East, with Halliburton up over 2.5% and Chevron up 2%. PG&E plunged 16% after California lawmakers blocked a proposal to limit wildfire liability, prompting downgrades from analysts including Mizuho. GameStop jumped 4% after reporting preliminary second-quarter results, expecting higher operating and net income despite lower net sales. Aon slipped 1.8% after announcing a $17 billion deal to buy USI Insurance Services from KKR. Pinterest fell over 3% as CFO Julia Brau Donnelly departs, with Vikram Naidu as interim replacement. Deere rose 1% on a Baird upgrade.

GameStop CEO Ryan Cohen is reportedly considering withdrawing the company's unsolicited $56 billion bid for eBay and replacing it with a partnership or joint venture. Bloomberg reported on August 10 that Cohen is exploring a more limited approach that would let eBay expand in high-margin areas like trading cards and collectibles using GameStop's roughly 1,600 US retail locations, in exchange for one or two board seats. GameStop shares climbed 1.6% in early trade while eBay shares sank 2.2% following the report. GameStop's initial May offer of $125 per share in cash and stock was rejected by eBay's board as neither credible nor attractive, and GameStop has since built a 9.75% stake in eBay. GameStop has not yet made a final decision, and the potential partnership is only a fraction of the initial bid's ambition.

Intel fell 3% premarket after announcing a $15 billion common stock offering to fund general corporate purposes including capital expenditures and working capital. GameStop rose more than 1.5% on a Bloomberg report that it is weighing abandoning its $56 billion bid for eBay, which eBay rejected in May as not credible. Hewlett Packard Enterprise gained over 5% after Morgan Stanley upgraded the stock to overweight, citing an attractive risk/reward profile. Verisk Analytics tumbled more than 6.5% after a Delaware judge ruled it must proceed with its $2.35 billion acquisition of AccuLynx, a deal it had terminated in December. Apple declined 1% following a Jefferies downgrade to underperform, with analysts citing canceled plans for an all-glass iPhone. Rocket Lab rose nearly 3% ahead of its second-quarter earnings report after the bell. Berkshire Hathaway added 0.5% after reporting a 16% increase in second-quarter operating earnings, driven by manufacturing, service, retailing, and energy profits, though insurance investment income fell 9%. Archer Aviation surged after announcing the acquisition of three Boeing subsidiaries, with Boeing taking an undisclosed stake.

Robinhood's proprietary blockchain, Robinhood Chain, has more than tripled in size since mid-July, with real-world assets including tokenized stocks reaching about $70 million by late July. A dozen tokenized stocks now exceed $500,000 in daily trading volume, and the most popular tokenized stocks during the month—GameStop, Nvidia, and SpaceX—had a combined trading volume of approximately $47 million. The growth of tokenized stocks on Robinhood Chain could widen the company's moat by bridging decentralized finance and traditional finance, increasing ecosystem stickiness, and attracting overseas users seeking 24/7 access to U.S. stocks without expensive cross-border brokerages.

GameStop disclosed it owns 43.4 million eBay shares, representing a 9.8% stake in the e-commerce company, a significant increase from the roughly 5% economic stake it held in early May when CEO Ryan Cohen offered to buy eBay for about $56 billion. The videogame retailer converted that exposure into common stock over recent weeks, buying 3.5 million shares for about $381 million last month and settling 39 million shares from put/call pairs on Friday. In an interview with Bloomberg Television, Cohen reiterated his intent, saying "we're coming for eBay one way or another," but declined to say whether he would raise his offer. eBay's board rejected the cash-and-stock bid as neither credible nor attractive, and financing remains a key question, relying on a non-binding commitment letter from TD Securities for up to $20 billion in debt contingent on an investment-grade rating.

GameStop has entered a partnership with Uber Eats to offer on-demand delivery of video games, consoles, and accessories to customers across the United States. The arrangement places GameStop directly into the on-demand delivery channel that many consumers already use for everyday purchases. How customers respond to quick delivery of gaming products, and how widely this service is adopted across regions and store locations, will be key points to monitor over time.

Best Buy and GameStop both reported results for the quarter ended May 2, 2026. Best Buy posted revenue of $8.9 billion and a net income margin of 3%, while GameStop recorded revenue of $835.3 million and a net income margin of 47%. GameStop also achieved its highest quarterly net income in history at $389.6 million, driven by cost management, higher revenue, and gains on investments such as Bitcoin. Best Buy's sales edged up from $8.8 billion in the prior-year quarter, while GameStop's revenue grew 14% year-over-year, helped by collectibles. The two specialty retailers continue to navigate shifts in consumer behavior, with Best Buy diversifying across product categories and GameStop facing a decline in its core video game business.

GameStop stockholders approved all proposals at the 2026 Annual Meeting, including an amendment to increase authorized Class A common stock. The amendment passed with 68.7% of votes cast, providing capacity to issue shares for strategic transactions such as the proposed acquisition of eBay. Stockholders also re-elected all five director nominees, approved executive compensation on an advisory basis, and ratified the appointment of the independent auditor. Final voting results will be filed with the SEC on Form 8-K.

GameStop is pursuing a potential acquisition of eBay after an initial rejection, signaling continued interest in expanding beyond its core video game retail business. CEO Ryan Cohen has withdrawn a controversial performance award to emphasize alignment with shareholders and reduce distractions during ongoing talks. The company has raised its financial targets as it renews its push around this potential deal. The stock closed at $22.82, with the share price up 4.9% over the past week and 10.7% year to date, while the 1-year return declined 2.1% and the 5-year return declined 51.7%.

GameStop reaffirmed its commitment to acquire eBay despite the board's rejection of its unsolicited offer, while projecting adjusted EBITDA for fiscal 2026 to surpass $600 million, up from $345.4 million in fiscal 2025. The company said further documentation on the proposed transaction will be released in the coming days. CEO Ryan Cohen's non-binding May proposal offered $125 per eBay share in a cash-and-stock deal valuing eBay at roughly $55.5 billion, backed by $9.4 billion in GameStop cash reserves and up to $20 billion in debt financing from TD Securities. eBay's board called the proposal neither credible nor attractive, citing concerns over financing, management, and compensation structure. GameStop, with a market value of about $10 billion, is pursuing a company roughly five times its size, and a $35 billion bonus plan tied to market-cap milestones was scrapped at Cohen's request earlier this week.

GameStop shares rose 1.4% in premarket trading to $22.07 after the video game retailer reaffirmed its intention to pursue the proposed acquisition of eBay, despite the online marketplace rejecting its unsolicited takeover approach. In a regulatory filing, GameStop confirmed it remains committed to its approximately US$56 billion cash-and-stock proposal and intends to continue pursuing the transaction as part of its long-term strategic plans. The company projected adjusted EBITDA of more than US$600 million for fiscal 2026, compared with approximately US$345 million for fiscal 2025, and has increased its ownership stake in eBay to 7.8%. Chief Executive Ryan Cohen has reportedly waived a potential performance-based compensation package to focus on advancing the deal, while recent financial results showed record quarterly net income of US$389.6 million and a 14% year-over-year increase in net sales driven by the collectibles business.

GameStop shares rose Monday after the video game retailer projected adjusted EBITDA of more than $600 million for fiscal 2027, up sharply from $345.4 million in fiscal 2025. The company also said its leadership remains focused on advancing its proposed acquisition of eBay, reinforcing its strategic expansion plans. Earlier in May, GameStop submitted a non-binding proposal to acquire eBay at $125 per share in cash and stock, and has increased its stake to 7.8% of eBay’s outstanding shares through derivative-linked structures. Among other notable movers, Comcast surged 23% after announcing a tax-free spin-off of NBCUniversal into a separate publicly traded company, while British American Tobacco slipped 2% on plans to cut 5,500 jobs as part of an AI-driven restructuring expected to deliver an additional £600 million in annualized cost savings by 2028.

GameStop announced that for the fiscal year ending January 30, 2027, it expects to generate adjusted EBITDA in excess of $600 million, compared to $345.4 million in fiscal year 2025. The company also stated that its leadership team remains focused on advancing the proposed acquisition of eBay, with additional materials regarding the transaction forthcoming. A Current Report on Form 8-K furnishing the outlook has been filed with the Securities and Exchange Commission.