TLDR
- GameStop reports Q2 2026 results after market close Tuesday, September 8
- Wall Street expects EPS of $0.27 and revenue of $756.85 million
- Net income projected at $290M-$310M, boosted by ~$238M in eBay investment gains
- Revenue expected at $780M-$800M, down from $972.2M a year ago
- Options market is pricing in a 7.31% move in either direction post-earnings
GameStop is set to report second-quarter 2026 results after the bell on Tuesday, September 8. GME stock closed at $19.16 on Friday, near its 52-week low of $17.79.
Wall Street is looking for adjusted EPS of $0.27 and revenue of $756.85 million. The company already released preliminary Q2 figures on August 31, so there are few big surprises expected.
Net income is projected between $290 million and $310 million. A big chunk of that comes from roughly $238 million in gains tied to GameStop’s eBay investment and derivative asset.
But that investment boost is partly offset by around $75 million in losses on digital assets and related receivables.
Revenue is expected to land between $780 million and $800 million, down sharply from $972.2 million in the same quarter last year. GameStop pointed to three main reasons for the drop: the tough comparison against last year’s Nintendo Switch 2 launch, planned store closures, and the sale of its France operations.
Balance Sheet Takes Center Stage
GameStop’s financial position is becoming harder to ignore. As of August 1, the company held roughly $5 billion in cash and nearly $5 billion in eBay stock. That is a war chest that gives the company flexibility even as core retail sales slide.
Operating income is expected between $150 million and $170 million, more than double the $66.4 million reported a year ago. EPS estimates have risen 42% over the past 60 days as analysts priced in those eBay-related gains.
Revenue estimates, on the other hand, have fallen 29% over the past two months, reflecting the weak outlook for the legacy retail business.
What Investors Will Be Watching
The key question for Tuesday is whether GameStop can show any operational momentum beyond the investment gains. Investors will look closely at same-store sales trends and newer initiatives like collectibles and the Uber Eats delivery partnership for games and electronics.
Margin performance will also be in focus. With revenue climbing sequentially but per-share earnings falling from the $0.30 posted in Q1, analysts want to know whether costs or competitive pressure are eating into the retail business.
GameStop’s proposed acquisition of eBay could also be a talking point. Stockholders approved increased share authorization in July to help fund the deal, but timing and integration details remain unclear.
History offers some optimism for GME holders. The stock has risen after five of the last eight earnings reports, including gains after each of the past four. Those moves came in at 7.58%, 11.65%, 1.18%, and 6.02%.
The options market is pricing in a 7.31% swing, or about $1.40, in either direction following Tuesday’s report.
TipRanks AI Analyst gives GME an Outperform score of 71 out of 100, with a price target of $24, implying roughly 25% upside from current levels. That said, the stock’s technical picture is flagged as a “Strong Sell.”
GME has beaten adjusted EPS estimates in seven of the past eight quarters but has only topped revenue forecasts once in that same stretch.
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