GameStop raises adjusted EBITDA outlook for GameStop stock

Published on 10/01/2026 at 10:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

GameStop stock costs EUR 21.76 on October 1, 2026 versus EUR 21.76, plus 0.00 percent. Q2 revenue fell 18.70 percent to USD 790.2 million.

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GameStop (ISIN US36467W1099) raised its adjusted EBITDA outlook for fiscal 2026 from more than USD 600.0 million to more than USD 650.0 million on September 8, 2026, according to GameStop. The higher outlook followed a quarter in which profitability improved despite lower sales.

Profit outlook moves higher

For the 13 weeks ended August 1, 2026, GameStop reported operating income of USD 160.2 million, up from USD 66.4 million in the prior-year quarter. The company said this was its highest second-quarter operating income, while adjusted EBITDA rose to USD 174.0 million from USD 75.7 million.

GAAP net income reached USD 298.7 million in the second quarter of 2026, compared with USD 168.6 million a year earlier. The increase included a USD 166.3 million gain on a derivative asset and a USD 72.1 million unrealized gain on the eBay equity investment, making the quality of earnings important alongside the headline profit increase.

Collectibles reshape quarterly sales

GameStop's sales mix changed sharply in the second quarter of 2026. Collectibles revenue grew 57.00 percent year over year to USD 356.3 million and represented 45.10 percent of quarterly sales, compared with 23.40 percent in the prior-year quarter, according to GameStop.

Total net sales fell 18.70 percent to USD 790.2 million from USD 972.2 million in the prior-year quarter. Video Games revenue declined to USD 263.2 million from USD 494.6 million, while the collectibles expansion and lower selling, general and administrative expenses supported the operating result.

Valuation still reflects volatility

GameStop held cash and cash equivalents of USD 4.9 billion as of August 1, 2026, alongside an equity investment valued at USD 4.9 billion. The balance sheet also carried approximately USD 2.8 billion of long-term debt after the September 3, 2026 exchange of approximately USD 1.4 billion of convertible notes, according to GameStop.

The stock's primary listing is on the NYSE, where the 52-week range was USD 17.79 to USD 28.10 and market capitalization was USD 11.1 billion as of September 30, 2026. MarketBeat lists a Hold consensus based on one research report, underscoring the gap between stronger operating profitability and the uncertainty around investment gains and the proposed eBay transaction, as MarketBeat reports.

EUR 21.76 holds steady

GameStop stock was trading at EUR 21.76 at Lang & Schwarz on October 1, 2026 at 10:08 a.m. CEST, plus 0.00 percent versus the prior close of EUR 21.76 on September 30, 2026. The primary-exchange reference was USD 24.65 at the latest quoted Nasdaq-linked market snapshot on September 30, 2026, with the US price and euro quote representing separate venues and currencies. The further course of trading is shown by the continuously updated real-time quote of GameStop stock.