Companies /Consumer Cyclical
Gamestop Corporation - Class A
NYSE: GME Specialty Retail
$26.56
▲ $1.28 (+5.06%) today
Markets closed · 11:14pm ET

GameStop (GME) Q2 2026 Earnings

Reported Sep 8, 2026, 9:02am ET · SEC source
$0.27
Beat +0.00%
EPS · est. $0.27 Adjusted
$790.2M
Beat +4.41%
Revenue · est. $756.9M
+32.8%
Beating market
GME vs S&P since report
9 quarters
Consecutive EPS beats

How Did GME Stock React to Q2 2026 Earnings?

% change · around the report
−3%0+3%Sep 8Sep 9report 9:02am ETearnings−0.8%+3.5%
−3%0+3%Sep 8Sep 9earnings−0.8%+3.5%
GME +3.5%S&P 500 −0.8%
−3%0+3%Sep 8Sep 9report 9:02am ETearnings−0.6%+3.5%
−3%0+3%Sep 8Sep 9earnings−0.6%+3.5%
GME +3.5%NASDAQ −0.6%
0+5%+10%Sep 8Sep 16report 9:02am ETearnings−0.9%+11.4%
0+5%+10%Sep 8Sep 16earnings−0.9%+11.4%
GME +11.4%S&P 500 −0.9%
0+5%+10%Sep 8Sep 16report 9:02am ETearnings−1.0%+11.4%
0+5%+10%Sep 8Sep 16earnings−1.0%+11.4%
GME +11.4%NASDAQ −1.0%
−1.41%
Day of report
+5.29%
Next session
+13.50%
One week
+33.83%
30 days

S&P 500 over the same 30 days: +1.04%.

Did GME Beat Earnings? Q2 2026 Results

Yes. GameStop reported Q2 2026 earnings of $0.27 a share on Sep 8, 2026, beating the $0.27 consensus estimate by 0.0%. Revenue was $790.2M against a $756.9M estimate.

GameStop delivered a quarter defined less by its top line than by what's happening beneath it, matching the $0.27 adjusted diluted EPS consensus while posting revenue of $790.20 million that topped the $756.85 million estimate by 4.41%, even as total sales fell 18.7% year over year from $972.20 million. The headline revenue decline reflects planned store closures, the France divestiture, and the absence of last year's Nintendo Switch 2 launch tailwind, but the more telling story is the rapid reshaping of GameStop's business mix: Collectibles surged 57% to $356.30 million and now account for 45.1% of net sales, driving gross margin to 43.7% from 29.1% a year ago and more than doubling operating income to $160.20 million from $66.40 million. The company's transformation into a financial-asset-holding entity added further complexity, with its eBay equity stake now valued at approximately $4.90 billion. Management raised its fiscal year 2026 Adjusted EBITDA outlook to in excess of $650.00 million, up from $600.00 million, while CEO Ryan Cohen reinforced conviction with a $26.39 million open-market share purchase in late September.

Key Takeaways
  • Collectibles net sales grew 57% year over year to $356.3 million, now representing 45.1% of net sales
  • Gross margin expanded to 43.7% from 29.1% driven by shift toward higher-margin Collectibles
  • SG&A expenses declined to $187.1 million from $218.8 million through cost reduction and store closures
  • Adjusted EBITDA grew to $174.0 million from $75.7 million year over year
  • $166.3 million gain on derivative asset and $72.1 million unrealized gain on eBay equity investment boosted GAAP net income

What Is GameStop's Outlook?

GameStop raised its fiscal year 2026 (ending January 30, 2027) Adjusted EBITDA outlook to in excess of $650 million, up from its prior guidance of in excess of $600 million provided on June 26, 2026. Adjusted EBITDA for the first six months of fiscal year 2026 was $339.7 million.

GME YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$300.0M$600.0M$900.0M$972.2M$790.2MRevenue$283.1M$345.0MGross Profit$66.4M$160.2MOperating Income$168.6M$298.7MNet Income
$0$300.0M$600.0M$900.0MRevenueGross ProfitOperating IncomeNet Income
GME income statement, Q2 2026 versus Q2 2025
Metric Q2 2026 Q2 2025 Year over year
Revenue $790.2M $972.2M −18.7%
Gross Profit $345.0M $283.1M +21.9%
Operating Income $160.2M $66.4M +141.3%
Net Income $298.7M $168.6M +77.2%

GME Revenue by Segment

Hardware and Accessories
Collectibles$356.3M+57.0%
Software

GME Revenue by Geography

United States$608.2M−16.1%
Australia$120.9M−14.2%
Europe$61.1M−42.7%
Canada

When Does GameStop Report Next?

Expected report date

Figures from SEC filings and company reports. Not investment advice.