GameStop Corp. is set to report second-quarter earnings on Sept. 8, with forecasts showing lower sales but higher profit. The company expects sales of $780 million to $800 million, down from $972.2 million a year ago, while net income is projected at $290 million to $310 million, up from $168.6 million. However, the profit figure includes about $238 million from its investment in eBay, offset by a loss of about $75 million from online assets. Investors will focus on whether the core business is improving as GameStop closes stores, cuts costs, and expands into collectibles, following a record first-quarter operating income earlier this year.
GameStop Corp.Earnings report expected with lower sales but higher profit, driven by cost cuts and investment gains; core business improvement uncertain.
eBay Inc