GameStop

GME Q1 2026 Earnings

Reported Jun 2, 2026 at 4:43 PM ET · SEC Source

Q1 26 EPS

$0.30

BEAT +87.50%

Est. $0.16

Q1 26 Revenue

$835.3M

BEAT +10.75%

Est. $754.2M

Did GME Beat Earnings? Q1 2026 Results

GameStop Corp. Delivered a standout first quarter for fiscal 2026, reporting adjusted earnings of $0.30 per diluted share on revenue of $835.30 million, a 14% increase from $732.40 million a year ago, as a rapid shift toward higher-margin collectible… Read more GameStop Corp. Delivered a standout first quarter for fiscal 2026, reporting adjusted earnings of $0.30 per diluted share on revenue of $835.30 million, a 14% increase from $732.40 million a year ago, as a rapid shift toward higher-margin collectibles reshaped the company's financial profile. The collectibles category, encompassing apparel, toys, trading cards, and authentication services, surged to $348.90 million from $211.50 million, now representing 41.8% of total sales, and helped drive gross margin expansion to 40.7% from 34.5%. Operating income swung to $143.30 million from an operating loss of $10.80 million, aided by a $26.50 million reduction in SG&A expenses to $201.60 million despite the stronger top line. GAAP net income reached $389.60 million, though that figure included a $268.40 million unrealized gain tied to derivative positions linked to GameStop's proposed acquisition of eBay. Free cash flow climbed to $333.10 million, and the board authorized a new $2.00 billion share repurchase program through June 2029.

Key Takeaways

  • Collectibles revenue surged 65% YoY, becoming the largest product category at 41.8% of sales
  • Gross margin expanded to 40.7% from 34.5% driven by favorable sales mix shift toward collectibles
  • SG&A expenses reduced by $26.5 million year-over-year despite revenue growth
  • Unrealized gain of $268.4 million on derivative asset related to eBay economic exposure
  • Interest income of $83.7 million from large cash and investment portfolio
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GME YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

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GME Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q3 26
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GME Revenue by Geography

With YoY comparisons, source: SEC Filings

Q4 25 Q3 26