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.
GameStop Corp.Q2 earnings beat with adjusted EPS $0.27 vs $0.19 consensus and raised full-year EBITDA outlook
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