GameStop Beats Q2 Forecasts as Collectibles Surge

GameStop reported second-quarter financial results on September 8, 2026, topping analyst expectations. Adjusted earnings per share reached $0.27, beating the consensus estimate of $0.19. Net sales fell 18.7% year over year to $790.2 million from $972.2 million in the prior year's second quarter, but still surpassed expectations of $756.8 million.

The revenue drop reflected the prior-year launch of the Nintendo Switch 2, planned store closures, and the divestiture of operations in France. However, collectibles net sales jumped 57% year over year to $356.3 million, making up 45.1% of total sales compared to 23.4% a year earlier. Operating income reached a record second-quarter high of $160.2 million, up from $66.4 million in the prior-year period. Following the announcement, the stock rose 0.7% in Wednesday premarket trading.

GameStop raised its full-year 2026 adjusted EBITDA outlook to exceed $650 million, up from its prior forecast of over $600 million issued on June 26, 2026. Adjusted EBITDA for the second quarter stood at $174.0 million, compared to $75.7 million a year earlier. In addition, the company retired roughly $1.4 billion in convertible senior notes on September 3, 2026, cutting total long-term debt to approximately $2.8 billion.