Overview
- GameStop, which disclosed preliminary results on Monday, Aug. 31, 2026, said second-quarter net sales are expected to be $780 million to $800 million versus $972.2 million a year earlier because of planned store closures, the sale of its France operations and the strong prior-year Nintendo Switch 2 launch.
- The company guided net income of $290 million to $310 million for the quarter, with about $238 million of that coming from a gain tied to its eBay position and roughly $75 million booked as losses on digital assets.
- During the quarter GameStop converted a previously held eBay derivative into direct equity, taking ownership of roughly 43.4 million eBay shares with a fair value near $4.95 billion at quarter-end.
- GameStop amended a private exchange for about $1.4 billion of convertible notes so holders will receive approximately 55.5 million shares plus $358.4 million in cash and the company expects the exchange to close around Sept. 3, 2026, which fixes the share count and reduces dilution uncertainty.
- Shares rose in early trading after the announcement and the company will publish full audited Q2 results on Sept. 8, 2026, which investors will use to judge whether profit gains from investments are sustainable or a one-time accounting effect.