GameStop Q1 net sales rise on collectibles strength; launches $2 billion buyback

GameStop

02/06/2026 21:51

Overview
Video game retailer's Q1 net sales rose 14% yr/yr, led by collectibles
Company posted record net income in the quarter and highest Q1 operating income
Board approved new $2.0 bln share repurchase authorization through June 2029

Outlook
GameStop did not provide specific guidance or forecasts for the current or future periods

Result Drivers
COLLECTIBLES GROWTH - Net sales growth was driven by strong performance in collectibles, which rose to $348.9 mln from $211.5 mln a year earlier
COST REDUCTION - SG&A expenses fell to $201.6 mln from $228.1 mln, supporting improved operating income
DERIVATIVE GAIN - Net income was boosted by a $268.4 mln unrealized gain on derivative assets tied to eBay Inc.

Company press release: ID:nBw2Jg5t4a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
 
$835.30 mln
 
Q1 Adjusted EPS
 
$0.30
 
Q1 Net Income
 
$389.60 mln
 
Q1 Gross Profit
 
$340.30 mln
 
Q1 Operating Income
 
$143.30 mln
 

Analyst Coverage
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 30 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)