GameStop released preliminary results for its fiscal second quarter ending August 1, 2026, showing net sales projected between 780 and 800 million dollars, down from 972.2 million in Q2 2025. This decline was driven by store closures and the exit from France. However, net income surged to 290-310 million dollars, roughly 75% higher than a year ago, thanks to an approximately 238 million gain from converting a derivative position into direct ownership of 43.4 million eBay shares valued at roughly 4.947 billion dollars. Cash and cash equivalents dropped from 8.694 billion to approximately 5.05 billion dollars as that capital was deployed for the equity conversion. GameStop also announced an amendment to 1.4 billion dollars in convertible notes, resulting in the issuance of approximately 55.5 million shares.
Source: Read the original article
