GameStop has increased its full-year adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) projection to an excess of $650m, up from a previous target of more than $600m, after net income surged 77% during the second quarter (Q2) of 2026.
Net profit for the period ended 1 August 2026 rose to $298.7m from $168.6m in the corresponding quarter last year.
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Operating earnings increased 141% to $160.2m from $66.4m, setting a record for the highest Q2 operating income in the retailer’s history.
Adjusted operating profit rose 145% to $158.7m from $64.7m.
The improved profitability came despite a 19% drop in total net sales to $790.2m, down from $972.2m.
GameStop attributed the revenue contraction to the prior-year release of the Nintendo Switch 2, scheduled shop closures, and the divestment of its French business.
Performance was bolstered by a 57% year-on-year jump in collectibles revenue to $356.3m from $227.6m.
The category expanded its contribution to 45.1% of aggregate sales, up from 23.4% a year earlier.
Overhead discipline also supported the earnings expansion, with selling, general, and administrative expenditure falling 14% to $187.1m from $218.8m.
Adjusted net income advanced 16% to $161.1m from $138.3m, while quarterly adjusted EBITDA rose 130% to $174m from $75.7m.
GameStop closed the quarter with $5.4bn in liquid assets, including $5.1bn in cash, cash equivalents, and marketable securities—down 41% from $8.7bn a year ago.
The retailer also held approximately 43.4 million eBay common shares, carrying an estimated fair market value of $4.9bn at the end of the quarter.
