TLDR
- GameStop reported record quarterly net income of $389.6 million, up from $44.8 million a year ago.
- Revenue rose 14% year-over-year to $835.3 million, driven by strong collectibles sales.
- The board approved a new $2 billion share repurchase program through June 2029.
- GME stock jumped as much as 8.7% in premarket trading to $22.74.
- GameStop raised its stake in eBay to 6.55% despite eBay rejecting its $56 billion takeover bid.
GameStop posted its strongest quarter on record Tuesday, with net income and operating income both hitting all-time highs ā results that sent the stock higher in premarket trading.
GameStop reports highest quarterly net income in company history of $389.6 million. Highest first quarter operating income in GameStopās history of $143.3 million. Net sales grew 14% year-over-year, driven by collectibles. Cash, marketable securities, digital assets and relatedā¦
— GameStop (@gamestop) June 2, 2026
The company reported net income of $389.6 million for the quarter ended May 2, a huge jump from $44.8 million in the same period last year. Operating income came in at $143.3 million, which GameStop said is its highest first-quarter operating income ever.
GME stock jumped 8.7% in premarket trading to $22.74 following the report.
Revenue for the quarter hit $835.3 million, up 14% from $732.4 million a year ago. The company credited a surge in collectibles sales for much of that growth.
Adjusted net income came in at $179.3 million, up from $73 million in the prior year period. That figure excludes gains on digital assets, unrealized gains on derivative assets, and other items.
A $2 Billion Buyback
GameStop’s board approved a new $2 billion share repurchase program, replacing a plan that had been in place since March 2019. The new authorization runs through June 2, 2029.
The buyback news came alongside the record earnings, giving investors two reasons to pay attention to the print.
The eBay Pursuit Continues
Even as GameStop celebrated its best quarter ever, the eBay saga rolled on. The company disclosed it raised its stake in eBay to approximately 6.55%, up from around 5%.
eBay had previously rejected GameStop’s unsolicited $56 billion cash-and-stock takeover offer, calling it “neither credible nor attractive.” eBay is roughly five times the size of GameStop by market cap.
CEO Ryan Cohen said he remains committed to the deal and has suggested he could take the offer directly to eBay shareholders if needed. He has argued a combined GameStop-eBay entity could cut costs and unlock meaningful synergies.
For now, GameStop continues to accumulate eBay stock in the open market while pushing its case.
The company has been shifting away from traditional hardware sales toward trading cards and collectibles as the gaming industry moves further into digital downloads. That pivot is clearly showing up in the numbers.
Most Wall Street analysts dropped coverage of GameStop during its meme-stock run in 2021, so there is no formal consensus estimate to measure the results against.
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