GameStop čeká ve 2. fiskálním čtvrtletí 2026 pokles tržeb na 780 až 800 milionů USD, ale provozní zisk má vyskočit na 150 až 170 milionů USD. Těží hlavně ze zisku z podílu v eBay a omezení dalšího ředění akcií.
Buy GME. The earnings math is being propped up by the eBay stake, and the convertible note overhang just got capped (fixed share count + cash). With consensus already aligned to the preliminary ranges, the likely catalyst is management commentary that confirms the eBay acquisition path without new dilution surprises. Upside is a rerating from “financial engineering” to “de-risked capital structure,” especially with implied post-earnings volatility already high.
Key Risk: Management signals more dilution is coming (new equity issuance or a worse-than-expected acquisition funding plan).
eBay (EBAY)
Buy EBAY. GameStop’s proposed acquisition at $125/share is a direct valuation floor for EBAY, and the market is focused on whether the deal closes and how it’s funded. If GME’s earnings confirm deal momentum and financing certainty, EBAY should catch a deal-support bid even before any final regulatory/closing headlines.
Key Risk: The acquisition is delayed, renegotiated lower, or blocked, removing the $125/share support.
GameStop reports second-quarter fiscal 2026 results after the market closes on Tuesday.
In a preliminary results press release on August 31, the company said it expects net sales of $780 million to $800 million for the quarter ended August 1, down sharply from $972.2 million a year earlier.
GameStop attributed the decline to a tough comparison against last year’s Nintendo Switch 2 launch, planned store closures, and the divestiture of its France operations.
The same release flagged operating income of $150 million to $170 million and net income of $290 million to $310 million, both well above the prior year.
Despite falling sales, GameStop expects operating income of $150 million to $170 million, more than double the $66.4 million posted a year ago, and net income of $290 million to $310 million versus $168.6 million last year.
The jump is largely financial engineering rather than retail strength.
GameStop converted its eBay derivative position into a direct equity stake during the quarter, and now holds roughly 43.4 million eBay shares worth close to $4.95 billion.
That stake generated about $238 million in net gains, partly offset by a roughly $75 million loss on digital assets and related receivables.
Wall Street’s consensus EPS of $0.27 already reflects most of this.
A day before the preliminary results, GameStop also amended its $1.4 billion convertible note exchange, first announced in early August.
Instead of an open-ended, share-price-linked stock swap tied to a 35-day trading window, the company fixed the terms: noteholders received about 55.5 million shares plus $358.4 million in cash, capping further dilution.
The exchange closed around September 3, leaving roughly $2.8 billion of convertible notes outstanding.
That certainty on share count matters more than usual right now, given GameStop’s proposed acquisition of eBay at $125 a share, payable in cash and stock, which will likely need further equity issuance down the line.
Ahead of the print, analysts have penciled in adjusted earnings per share of $0.27 on revenue of roughly $756.85 million, according to estimates tracked by TipRanks and other Street-facing platforms.
Both figures sit inside the ranges GameStop itself flagged in its preliminary release, which is why analysts widely expect Tuesday’s print to confirm rather than surprise.
The bigger swing factor, in their view, is management’s forward commentary rather than the historical numbers.
GME shares closed at $19.16 on Friday, just above their 52-week low of $17.79, and have traded a roughly flat-to-down path over the past week.
The options market is pricing a swing of around 9% in either direction post-earnings, well above the stock’s 6.6% average move over the past four quarters.
Pro GameStop bude důležitější, co Ryan Cohen udělá s více než 7 miliardami USD hotovosti, než samotné tržby za čtvrtletí. Firma oznámí výsledky za fiskální 2. čtvrtletí po úterním uzavření burzy.
Ryan Cohen is sitting on a war chest worth billions, and what he chooses to do with it before Tuesday's close could matter far more to GameStop investors than any revenue line in the quarterly report.
GameStop (NYSE:GME | GME Price Prediction) reports fiscal second quarter results Tuesday after the close. With shares down 4.58% year to date and a cash pile north of $7 billion, the reaction will hinge less on the P&L than on what Ryan Cohen does with the balance sheet.
Cash Deployment Now Matters More Than Comps In Q1 FY2026 revenue rose to $835.3 million, up 14% year over year, with gross margin expanding to 40.7% from 34.5% as collectibles became the largest category at $348.9 million, or 41.8% of sales. SG&A came down to $201.6 million, and interest income from the securities portfolio added another $83.7 million.
The board authorized a fresh $2.0 billion share repurchase program running through June 2, 2029, and GAAP results included a $268.4 million unrealized gain on derivative positions tied to a proposed acquisition of eBay (NASDAQ:EBAY). Management doesn’t typically hold a call or provide guidance, so investors read the release, the 10-Q, and the stock reaction.
Consensus Estimates Sell-side coverage on GME is thin. Alpha Vantage shows just one EPS analyst and one revenue analyst for the quarter, which is why the estimate ranges collapse to a single number.
Metric Q2 FY2026 Est. Prior Year FY2027 Est. EPS $0.27 $0.25 $1.30 Revenue $756.85M $972.2M $3.90B The quarterly EPS estimate has been revised up from $0.23 sixty days ago.
Core Retail, Cash Pile, and the eBay Overhang There are four things worth watching in this report. First, the collectibles trajectory. Trading cards and authentication have been the reason gross margin scaled from the low 30s into the 40s, and any deceleration matters more than a hardware miss.
Second, the revenue figure itself. Comparable Q2 FY2025 revenue was inflated by a $592.1 million hardware and accessories quarter, and international divestitures in Canada, France, and New Zealand continue to compress the top line. You want to see whether the decline is decelerating on a like-for-like basis.
Third, cash deployment. With roughly $8 to $9 billion in cash and securities, any progress on the $2.0 billion buyback, an update on the proposed eBay transaction, and the mark on the Bitcoin position (recently valued in the $519 to $529 million range) will move the stock more than operating metrics.
Fourth, the warrants. The 59 million warrants at a $32.00 exercise price expire October 30, 2026, and with the stock at $19.16, they are well out of the money. Any commentary on the $3.75 billion in convertible notes is fair game.
A Retail-Positioning Stock With a Balance Sheet Problem to Solve GME trades on retail sentiment as much as fundamentals, and moves have historically been large in both directions. Even with four straight beats, the average day-of reaction has been negative at -1%. The question this quarter is whether Cohen shows how the war chest gets deployed, or leaves the market to keep guessing.
Contact [email protected] for any questions or corrections.
GameStop ve 2. čtvrtletí vykázal tržby 790,2 mil. USD, které překonaly odhady, a upravený zisk na akcii 27 centů byl v souladu s očekáváním. Tahounem byly Collectibles s růstem tržeb o 57 % meziročně.
GameStop Corp. (NYSE:GME) reported financial results for the second quarter before the market open on Tuesday. Here’s a rundown of the report.
GameStop stock is trending. What’s the outlook for GME shares? GameStop Q2 HighlightsGameStop reported second-quarter revenue of $790.20 million, beating analyst estimates of $756.85 million, according to Benzinga Pro. The company reported adjusted earnings of 27 cents per share for the quarter, in line with analyst estimates.
Total revenue was down approximately 18.72% on a year-over-year basis, driven by the prior-year launch of Nintendo Switch 2, planned store closures and the divestiture of the company’s France operations.
Beginning this quarter, GameStop started reporting net sales in three categories (Collectibles, Video Games, and Pre-Owned and Refurbished). Here’s a breakdown of revenue by category:
Collectibles: $356.3 million, up from $227.6 million year-over-year Video Games: $263.2 million, down from $494.6 million year-over-year Pre-Owned and Refurbished: $170.7 million, down from $250 million year-over-year The Collectibles category stood out with 57% year-over-year growth, representing 45.1% of total net sales in the period.
Operating income totaled $160.2 million in the quarter, representing the highest second quarter operating income in company history. The strong operating performance prompted GameStop to raise its fiscal 2026 adjusted EBITDA outlook to “in excess” of $650 million, up from a prior outlook of more than $600 million.
GameStop said it ended the quarter with $5.4 billion in total cash, cash equivalents, marketable securities, digital assets and related receivables. The company noted that it held approximately 43.4 million shares of eBay common stock at quarter’s end.
GME Shares Move Higher TuesdayGME Price Action: GameStop shares were up 1.10% on Tuesday, trading at $19.37 at the time of publication, according to Benzinga Pro.
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Člen správní rady GameStop Lawrence Cheng koupil 55 000 akcií za 1 milion USD a zvýšil svůj podíl o 62 %. Nákup přišel ve stejný den, kdy firma oznámila výsledky za fiskální druhé čtvrtletí končící 1. srpna.
Board of Directors member Lawrence Cheng reported a purchase of 55,000 shares of GameStop Corp. (GME -1.41%) in an SEC Form 4 filing dated September 8, 2026.
Transaction summaryMetricValueTransaction value$1.0 millionShares purchased (indirectly held)55,000Post-transaction shares (indirectly held)143,000Post-transaction value$2.70 millionTransaction value based on SEC Form 4 weighted average purchase price ($18.80); post-transaction value based on September 08, 2026 market close ($18.89).
Key questionsWhat does the 62% trade size relative to prior holdings suggest?
The transaction substantially expands the director's exposure through Cheng Capital LLC, moving the total position from 88,000 shares to 143,000 shares. This represents a concentrated increase in equity risk by the reporting owner.How does the transaction price compare to recent market levels?
Lawrence Cheng executed the purchase at $18.80 per share, slightly below the $18.89 market close on the same day. As of the September 8, 2026 market close, the stock was priced at $19.37.What is the nature of the insider's equity position?
The entirety of the reported position is held indirectly through Cheng Capital LLC. After the transaction, the insider's ownership percentage of the specialty retailer is 0.0319%.Does the filing include any derivative activity?
The filing was restricted to the acquisition of Class A Common Stock. There was no reporting of stock options, restricted stock units, or other derivative instruments in this specific transaction.Company OverviewMetricValueShare Price (as of market close 2026-09-08)$19.37Market Capitalization$8.7 billionRevenue (TTM)$3.6 billionNet Income (TTM)$893.3 millionCompany SnapshotGameStop Corp. operates as a specialty retailer offering new and pre-owned video game consoles, gaming software, accessories including controllers and headsets, virtual reality equipment, as well as collectibles and other entertainment products across physical stores and online platforms in the United States, Canada, Australia, and Europe.The company generates revenue through the sale of collectibles, gaming hardware, software, and accessories across its omnichannel retail network, leveraging both e-commerce capabilities and brick-and-mortar locations to serve collectors, gaming enthusiasts and casual consumers.GameStop's primary customer base consists of hobbyists and collectors, video game enthusiasts, console gamers, and entertainment consumers seeking both new releases and pre-owned products, with a focus on the mass-market collectibles and gaming demographic across developed markets.GameStop Corp. operates as a prominent specialty retailer in the consumer cyclical sector with a market cap of $8.7 billion. The company maintains a diversified product portfolio spanning collectibles, gaming hardware, software, and accessories, positioning itself as a destination retailer for specialty and entertainment products across multiple geographic markets.
With trailing 12-month revenue of $3.6 billion, GameStop demonstrates substantial scale within the specialty retail segment, though the company has experienced a one-year share price decline of 18.65% reflecting broader market dynamics in the retail sector.
What this transaction means for investorsThe Sept. 8 purchase of GameStop shares by Board of Directors member Lawrence Cheng signals his strong confidence in the stock, considering he increased his stake by a whopping 62%. He bought on the same day the company announced earnings results for its fiscal second quarter ended Aug. 1.
GameStop stock dropped on Sept. 8, and Cheng scooped up 55,000 shares for $18.80 per share. That's near the stock's 52-week low of $17.79 reached in August.
GameStop shares are down because the company reported fiscal Q2 sales of $790.2 million, a steep decline from the prior year's $972.2 million. Revenue fell due to store closures and the divestiture of its operations in France.
Perhaps Cheng's bullish outlook is because the company's shift toward a collectibles business is succeeding. GameStop's Q2 collectibles revenue reached $356.3 million compared to $227.6 million in the previous year.
The company also raised its full-year outlook. Moreover, news reports suggest GameStop's attempt to acquire eBay has transitioned towards a potential partnership instead, with the e-commerce giant possibly using GameStop's physical stores as a new channel to sell products.
Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends eBay. The Motley Fool has a disclosure policy.
GameStop čeká za 2. čtvrtletí čistý zisk 290 až 310 milionů USD, ale asi 238 milionů USD z něj tvoří zisky z podílu v eBay. Tržby mají klesnout o 18 % až 20 % na 780 až 800 milionů USD.
GameStop's eBay investment delivered $238 million in gains, masking a steep decline in core retail sales ahead of Sept. 8 earnings Summary
GameStop expects Q2 net income of $290 million to $310 million as its $4.95 billion eBay stake offsets an 18% to 20% sales decline
GameStop GME enters its Sept. 8 earnings report with a profit surge driven more by its investment portfolio than its video game stores.
Preliminary results show fiscal second-quarter net income of $290 million to $310 million, up from $168.6 million a year earlier. However, roughly $238 million in net gains came from GameStop's equity stake and derivative positions in eBay (EBAY). A $75 million loss on digital assets partly offset those returns.
Investment gains drive GameStop profitAs of Aug. 1, GameStop owned 43.4 million eBay shares valued at $4.95 billion. The position has made eBay's stock performance a major driver of GameStop's earnings.
GameStop sells games, consoles, collectibles and merchandise through stores and online. The company became a meme stock in 2021, but its retail business has continued contracting as game purchases move online and management closes weaker locations.
That pressure remained visible. Quarterly sales are expected to fall to between $780 million and $800 million from $972.2 million last year, a decline of roughly 18% to 20%. Store closures, the sale of GameStop's French operations and a difficult comparison with last year's Nintendo Switch 2 launch weighed on revenue.
Operating income is expected to reach $150 million to $170 million, up from $66.4 million. Investors must separate sustainable operating improvement from market gains that could reverse if eBay shares weaken.
What GameStop investors should watchGameStop ended the first quarter with $8.4 billion in cash and marketable holdings and authorized a $2 billion buyback program through June 2029. It also used $358.4 million in cash and stock to exchange convertible notes and limit future dilution.
For investors, the Sept. 8 report is about earnings quality. The key questions are whether retail margins are improving, how management will deploy its investment portfolio and whether GameStop is becoming a stronger retailer or primarily an investment vehicle attached to a shrinking business.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
GameStop v předběžných výsledcích za 2. čtvrtletí očekává čistý zisk 290 až 310 milionů USD, hlavně díky zisku z podílu v eBay. Část výsledku ale srazila ztráta 75 milionů USD ze znehodnocení digitálních aktiv a souvisejících pohledávek.
Shares of GameStop Corp. (NYSE:GME) are trading modestly higher Wednesday morning. Investors continue to process the company’s preliminary second-quarter financial update released on August 31.
The stock is finding a floor ahead of its official earnings presentation scheduled for September 8, supported by disclosures of investment income stemming from its equity position in online marketplace giant eBay Inc.
Here’s what investors need to know.
GameStop stock is trading near recent lows. What should traders watch with GME? Preliminary Q2 Earnings Boosted By eBay Equity GainsIn its preliminary disclosure on August 31, GameStop projected second-quarter net income between $290 million and $310 million, up significantly from $168.6 million in the prior-year quarter, alongside operating income of $150 million to $170 million.
Bottom-line expansion was largely driven by approximately $238 million in net gains generated after converting a derivative structure into a direct holding of 43.4 million shares of eBay common stock, valued at roughly $4.95 billion as of August 1.
These equity gains were partially offset by a $75 million impairment loss across the company’s digital assets and related receivables.
Liquidity Profile, Debt Restructuring and Macro HeadwindsGameStop ended the period with cash, cash equivalents and marketable securities between $5.05 billion and $5.07 billion. Concurrently, management announced the settlement of $358 million in convertible notes, leaving approximately $2.8 billion in aggregate long-dated notes outstanding.
As Chief Executive Officer Ryan Cohen continues redirecting GameStop’s balance sheet toward active corporate investment strategies, traders are balancing the company’s $10 billion combined cash and equity position against broader market volatility, where the 10-year Treasury yield hovering near 4.81% on Wednesday morning continues to pressure equity valuations across retail and growth sectors.
GME Shares Edge Higher WednesdayGME Price Action: GameStop shares were trading higher by 0.96% at $18.99 at the time of publication on Wednesday, according to Benzinga Pro data.
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GameStop čeká ve 2. čtvrtletí pokles tržeb na 780 až 800 milionů USD kvůli uzavírání obchodů a prodeji francouzských aktivit. Loni činily 972,2 milionu USD.
GameStop (GME.N) said on Monday it expects second-quarter net sales to decline due to planned store closures and the sale of its France operations.
The videogame retailer expects quarterly net sales in the range of $780 million to $800 million on a preliminary basis, compared with $972.2 million reported a year ago.
Still, GameStop's shares rallied 5% in premarket trading after the company said it would pay about 27% of a previously announced $1.4 billion debt exchange through cash on hand instead of issuing new stock. That would prevent shareholders from suffering more dilution.
GameStop has been pursuing a high-profile takeover of the much larger eBay (EBAY.O) and has built a nearly 10% stake in the online auction site even after suffering a rejection in May. Bloomberg News reported earlier this month it could pull the bid and instead focus on a partnership or venture with the e-commerce company.
While the takeover proposal attracted significant attention on Wall Street and among retail investors, it drew widespread skepticism from analysts, who questioned how GameStop would finance the acquisition and highlighted the limited overlap between the companies' core businesses.
GameStop said it expects cash, cash equivalents and marketable securities to be in the range of $5.05 billion to $5.07 billion, compared with $8.69 billion at the close of the prior year's second quarter.
It expects quarterly net income between $290 million and $310 million, versus $168.6 million reported a year earlier.
Net income for the quarter includes about $238 million in net gains stemming from the eBay derivative asset and equity investment, partially offset by a loss of roughly $75 million on digital assets and related receivables.
GameStop, which has shifted focus from traditional hardware sales toward trading cards and collectibles, is scheduled to report its second-quarter results on September 8.
GameStop zvažuje stažení nabídky na převzetí eBay za 56 miliard USD a místo toho partnerství nebo společný podnik. Ryan Cohen by chtěl využít zhruba 1 600 amerických prodejen GameStop.
GameStop Corp. (NYSE:GME) and eBay Inc. (NASDAQ:EBAY) are trending after a report that GameStop is considering withdrawing its $56 billion takeover bid for eBay in favor of a potential partnership or joint venture instead.
GameStop shares are trending higher. What’s pushing GME stock higher? From Takeover to Partnership?According to Bloomberg, GameStop CEO Ryan Cohen is weighing a proposal that would let eBay leverage GameStop’s roughly 1,600 U.S. retail locations, potentially helping both companies gain market share in high-margin categories such as trading cards and collectibles. As one of eBay’s largest shareholders, GameStop would also seek board representation as part of any such partnership. GameStop hasn’t made a final decision, and Cohen could still pursue other options, according to people familiar with the matter who spoke to Bloomberg on condition of anonymity.
Since GameStop’s initial offer in May, its stock has fallen 28% while eBay’s has climbed 7.6%. The original $125-a-share proposal was structured as 50% cash and 50% GameStop common stock. As of July 15, GameStop owned 9.75% of eBay, making it the company’s second-largest shareholder behind Vanguard Group funds.
Backdrop: Cash Reserves, Shrinking Retail, Investor ExitGameStop has approximately $8.4 billion in cash that could be deployed toward a deal, though its own market value has fallen to $8.6 billion. The takeover pursuit followed a series of major changes at GameStop, which has shrunk its physical retail footprint as gamers increasingly shifted to buying software online.
Notably, investor Michael Burry said he exited his entire GameStop position after the eBay bid was announced, citing concerns about the debt GameStop could take on to fund the deal.
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eBay, GameStop Stock Move In Opposite DirectionsPrice Action: At the time of publication, eBay shares are trading 1.25% lower at $110.58 and GameStop shares are trading 2.71% higher at $19.68, according to data from Benzinga Pro.
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GameStop varuje, že někteří držitelé dluhopisů mohou během 35 obchodních dnů kolem 3. srpna 2026 obchodovat s GME, což může ovlivnit cenu akcie. Firma mění zhruba 400 mil. USD dluhu za akcie a 1 mld. USD dluhu za akcie.
GME stock is dropping. See the chart and price action here. GameStop’s $1.4B Note-For-Stock SwapGameStop entered privately negotiated agreements to swap roughly $400 million of its Convertible Senior Notes due 2030 and $1 billion of its Convertible Senior Notes due 2032 for shares of Class A common stock.
No cash changes hands — the company simply retires debt by handing over equity instead. The catch is in how many shares are handed over and who’s incentivized to move the stock while that number is being calculated.
GameStop said the share count “will be based in part on the average volume-weighted average price of the Common Stock over a 35 consecutive trading day reference period beginning on August 3, 2026, subject to a per share price floor.”
In plain terms: for the next 35 trading sessions, into early September, GME’s average price directly determines how many new shares get printed.
A Built-In Incentive to Short GMEHere is where the hedging language comes in.
GameStop explicitly warned that “some or all of the Existing Noteholders that participate in the Exchange may purchase or sell shares of Common Stock in open market transactions or enter into or unwind various derivative transactions with respect to Common Stock to hedge or unwind their investments in the Exchange Notes.”
The company added that “these activities could increase or decrease the market price of the Common Stock or the Exchange Notes, the effect of which may be material.”
GameStop gave the warning because noteholders now have a built-in incentive to short GME or trade options against it during the VWAP window, since a lower average price could work in their favor depending on how the exchange terms are structured relative to the price floor.
The debt exchange is expected to close around Sep. 23, 2026, meaning this dynamic has weeks to play out.
For a stock already down double digits Monday, that’s a technical overhang worth tracking independent of the eBay headlines — and one that could keep GME choppy heading into the fall regardless of what happens with Cohen’s takeover push.
GME Stock Price Activity: GameStop stock was down 13.84% at $18.71 at the time of publication Monday, according to data from Benzinga Pro.
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eBay stock is trading at elevated levels. Where is EBAY stock headed? According to a regulatory filing made late Friday, GameStop now owns 43.4 million shares of eBay, representing a 9.8% stake in the company — a sharp increase from the 5% economic stake CEO Ryan Cohen initially disclosed when he approached eBay’s board in May. GameStop acquired more than 3.5 million shares for $381.3 million between June 8 and June 15, followed by roughly 39 million additional shares through put/call pairs on June 17.
Cohen Vows to Pursue eBay DealGameStop submitted a non-binding proposal on May 3 to acquire all outstanding eBay shares it doesn’t already own for $125 per share in a cash-and-stock deal, valuing the transaction at approximately $56 billion. eBay’s board rejected the offer, calling it “neither credible nor attractive.”
Despite the rejection, GameStop has continued building its position and reaffirming its intent to pursue the deal, with Cohen stating he intends to acquire the platform “one way or another.” The proposed transaction remains non-binding and would be subject to negotiation, financing, regulatory approvals, and stockholder votes from both companies.
GameStop, eBay Shares Trade FlatPrice Action: At the time of publication, GameStop shares are trading 0.05% higher at $21.90 and eBay shares are trading 0.84% higher at $113.00, according to data from Benzinga Pro.
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GameStop dál usiluje o převzetí eBay, přestože eBay dříve odmítla nabídku za 56 miliard USD. Ryan Cohen říká, že chce z obou firem vytvořit podnik za 1 bilion USD.
GameStop CEO Ryan Cohen said Thursday (July 16) that the company continues to pursue an acquisition of eBay, Bloomberg reported Thursday.
In an interview with Bloomberg TV, Cohen declined to say whether he planned to raise his offer for the company but said “we’re coming for eBay one way or another,” according to the report.
EBay rejected a $56 billion offer from GameStop earlier this year, the report said.
Cohen said Thursday that he aims to turn the combined company into a $1 trillion business, in part by building a digital marketplace for video game items, taking advantage of synergies between the companies’ collectibles businesses, and using GameStop locations as hubs for authenticating trading cards, per the report.
“The pro forma company is going to be investment grade,” Cohen said.
PYMNTS reported May 3 that GameStop announced that it had submitted a nonbinding proposal to acquire 100% of eBay and that following closing, Cohen would serve as CEO of the new combined company.
In a letter to eBay, GameStop said that eBay had spent $2.4 billion on sales and marketing during fiscal year 2025 and added just 1 million net active buyers. GameStop pledged to cut around $1.2 billion in sales and marketing costs as part of $2 billion in annual cost reductions within 12 months of closing.
On May 12, PYMNTS reported that eBay rebuffed GameStop’s $56 billion acquisition offer and called the proposal “neither credible nor attractive.”
EBay said in an announcement that its board had reviewed the surprise takeover bid and decided to reject it based on eBay’s “standalone prospects,” “uncertainty” on how the deal would be financed, and the impact of the bid on its long-term profitability and growth.
GameStop said in a June 26 press release that its “leadership team remains focused on advancing the proposed acquisition of eBay” and that “additional materials regarding the proposed transaction are forthcoming.”
On July 7, GameStop said in a press release that its stockholders approved an increase in the number of authorized shares of Class A common stock and that this amendment “provides the Company with the capacity to issue common stock in connection with strategic acquisitions, including its proposed acquisition of eBay, Inc.”
Uber Eats rozšiřuje doručování mimo jídlo a nově přidává GameStop i Foot Locker. Zákazníci si přes aplikaci mohou objednat hry, konzole, oblečení i obuv z více než 1 000 poboček v USA.
Uber Eats has continued its expansion into deliveries of goods beyond meals by forming partnerships with gaming retailer GameStop and three footwear, apparel and accessories retail brands affiliated with Foot Locker.
With GameStop joining the Uber Eats marketplace, customers can use Uber Eats to order video games, gaming consoles, accessories and collectibles from GameStop locations across the United States and have them delivered on demand or at a scheduled time, Uber Technologies said in a Wednesday (July 15) press release.
GameStop said in a Wednesday post on X: “What’s your excuse for buying digital now?”
Hashim Amin, head of grocery and retail for Uber in North America, said in the release: “Adding GameStop to Uber Eats strengthens our growing gaming and electronic selection, giving customers access to another trusted retailer they can shop with the speed and convenience they know from Uber.”
Another new partnership has added Foot Locker, Kids Foot Locker and Champs Sports to the Uber Eats marketplace. This allows consumers to use the Uber Eats app to order footwear, apparel and accessories from the retail brands’ more than 1,000 locations across the U.S. and have them delivered on demand or at a scheduled time, Foot Locker said in a Thursday (July 16) press release.
Ashley Chiang, senior director of strategy at Foot Locker, said in the release that Foot Locker is “focused on giving customers more ways to shop with speed and convenience” and that the new partnership provides “another seamless way for them to access the products they love, especially during key shopping moments like back-to-school season.”
Uber’s Amin said in the release that the partnership “brings some of the world’s most iconic athletic brands to our marketplace and gives customers another fast, convenient ways to shop the products they love.”
The Uber Eats marketplace now includes thousands of storefronts across grocery, convenience, beauty, home improvement, office supplies, pet supplies, electronics and other categories, according to the Wednesday press release.
“Uber Eats has become the place consumers turn to for whatever they need, whether it’s dinner tonight or a last-minute pair of sneakers,” Amin said in the Thursday press release.
It was reported in September 2025 that Uber was seeing its non-restaurant deliveries grow faster than expected and that the company had added 1,000 new retailers to its delivery service in the first nine months of 2025.
PYMNTS reported in May that Uber Technologies increasingly resembles a sprawling mobility and logisticsplatform. The company aims to orchestrate airport rides, hotel reservations, restaurant delivery, retail shoppingand eventually autonomous fleets.
GameStop čeká ve fiskálním roce 2026 upravená EBITDA přes 600 milionů USD, proti 345,4 milionu USD v roce 2025. Firma zároveň pokračuje v přípravě navrhované akvizice eBay.
GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that, for the fiscal year ending January 30, 2027 ("fiscal year 2026"), the Company currently expects to generate Adjusted EBITDA in excess of $600 million, compared to Adjusted EBITDA of $345.4 million in fiscal year 2025.
GameStop's leadership team remains focused on advancing the proposed acquisition of eBay, Inc. ("eBay"). Additional materials regarding the proposed transaction are forthcoming.
A Current Report on Form 8-K furnishing the Company's fiscal year 2026 outlook has been filed with the Securities and Exchange Commission and is available at www.sec.gov and on the Company's investor relations website at investor.gamestop.com.
NON-GAAP MEASURES AND OTHER METRICS
As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP"), GameStop may use certain non-GAAP measures, including adjusted EBITDA. Adjusted EBITDA is a supplemental financial measure of the Company’s performance that is not required by, or presented in accordance with, GAAP. We believe that the presentation of this non-GAAP financial measure provides useful information to investors in assessing our core operating performance, financial condition and results of operations. We define adjusted EBITDA as net income before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs (including severance and other costs), business divestitures, asset impairments, gain (loss) on digital assets and related receivables, unrealized gain (loss) on derivative assets, and other non-cash charges. Net income is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include:
certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, results of operations or cash flows; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA is provided in addition to, and not as an alternative to, the Company’s financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA may be defined and determined differently by other companies in our industry, our definitions of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.
With regards to forward-looking guidance for adjusted EBITDA, we are not able to reconcile the forward-looking non-GAAP measure of adjusted EBITDA to the closest corresponding GAAP measure, net income, without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items.
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by the use of terms such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "pro forma," "seeks," "should," "will" or similar expressions. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: the performance of our business and our ability to generate earnings in line with our guidance; economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season and on the popularity and sale of trading cards; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; how the Company incorporates artificial intelligence into workflows and processes, including customer-facing and operational activities, and challenges with properly managing its use; the Company’s ability to manage its profitability and cost reduction initiatives; the Company’s ability to complete its proposed acquisition of eBay Inc.; changes in senior management or the Company’s ability to attract and retain qualified personnel; the Company is highly dependent on the services of the Company’s Chairman of the Board and Chief Executive Officer, Ryan Cohen; if the grant of a 100% performance-based nonqualified stock option award (the “CEO Performance Award”) to Mr. Cohen is not approved by the Company’s stockholders or if the Company is unable to adequately incentivize Mr. Cohen to maintain his focus and priorities on the Company, the Company's ability to execute on its strategy and achieve its growth goals may be adversely impacted; the CEO Performance Award, if and to the extent the stock options associated become vested and are exercised, would result in dilution to the Company’s stockholders and could impact the Company’s stock price; potential damage to the Company’s reputation or customers' perception of the Company; the Company's ability, or the ability of the third parties with whom we work, to maintain the security of our information technology systems or data (including customer, associate or Company information); the Company's compliance with stringent and evolving laws and other obligations related to data privacy and security; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; changes to tariff and import/export regulations; potential litigation and other legal proceedings; the value of the Company's investment holdings; concentration of the Company's investment portfolio into one or fewer holdings; the recognition of losses in a particular investment even if the Company has not sold the investment; the execution and timing of share repurchases, if any, under the share repurchase authorization; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; the issuance of common stock upon the exercise of the warrants declared as part of the October 7, 2025 distribution to the holders of record of the Company's Class A common stock and holders of the Convertible Notes, in the form of warrants to purchase shares of common stock (the “Warrants”), may depress our stock price; future issuance of additional warrants may adversely affect the market price of the Warrants and the market price of the Company’s common stock; the Warrants do not automatically exercise, and any Warrant that is not exercised prior to their expiration date will lose all financial value; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to generate sufficient cash flow to fund its operations; the $1.5 billion 0.00% Convertible Senior Notes due 2030 (the “Convertible 2030 Notes") and $2,250.0 million 0.00% Convertible Senior Notes due 2032 (the "Convertible 2032 Notes" and, collectively with the Convertible 2030 Notes, the "Convertible Notes") are the Company’s obligations only, and substantially all of our operations are conducted through, and a portion of our consolidated assets are held by, our subsidiaries; servicing the Convertible Notes requires a significant amount of cash, and the Company may not have sufficient cash flow from our business to make such payments, and we may incur additional indebtedness in the future; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on Company’s financial results; the Company's investment policy permits investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar-denominated stable coins, and to the extent the Company holds Bitcoin or U.S. dollar denominated stable coins, the Company will be exposed to certain risks associated with Bitcoin or stable coins, respectively; the Company’s derivative strategy can expose it to counterparty risk; and the Company’s ability to maintain effective internal control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the Securities and Exchange Commission and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com). Forward-looking statements contained in this Press Release speak only as of the date of this Press Release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Preliminary Financial Information
We report our financial results in accordance with U.S. generally accepted accounting principles. All projected financial information in this Press Release is preliminary. These estimates are not a comprehensive statement of our financial position and results of operations. There is no assurance that the Company will achieve its forecasted results within the relevant period or otherwise. Actual results may differ materially from these estimates as a result of actual quarter-end results, the completion of normal quarter-end accounting procedures and adjustments, including the execution of our internal control over financial reporting, the completion of the preparation and management’s review of our financial statements for the relevant period and the subsequent occurrence or identification of events prior to the filing of our financial results for the relevant period with the Securities and Exchange Commission.
No Offer or Solicitation
This communication relates to a business combination involving GameStop and eBay that has been proposed by GameStop (the “Proposed Transaction”). This communication is for informational purposes only and is neither an offer to sell or purchase, nor the solicitation of an offer to buy or sell, any securities (or the solicitation of any proxy or vote with respect to any matter), nor shall there be any sale or purchase, issuance or other transfer of securities (or the solicitation of any proxy or other vote) with respect to the Proposed Transaction or otherwise in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Certain Information Regarding Participants
GameStop and its directors and certain of its executive officers may be considered participants in the solicitation of proxies in connection with the Proposed Transaction, should the Proposed Transaction and any such solicitation occur. Information about the directors and executive officers of GameStop is set forth in GameStop’s definitive proxy statement for the 2026 Annual Meeting of Stockholders to be held July 7, 2026 at 10:00 a.m. CDT, which was filed with the SEC on May 22, 2026 (as supplemented from time to time, the “2026 Proxy Statement”), which is available here, including under the headings “Proposal 1: Election of Directors”, “Director Nomination Process”, “The Director Nominees”, “Director Nominee Qualifications and Experience”, “Biographies of Director Nominees”, “The Board of Directors”, “Corporate Governance”, “Director Compensation”, “Executive Officers”, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”, “Compensation Committee Interlocks and Insider Participation”, “Proposal No. 2: Advisory Vote on Executive Compensation”, “Compensation Discussion and Analysis”, “Offer Letters and Severance/Change in Control Benefits”, “Compensation Committee Report on Executive Compensation”, “Executive Compensation Tables”, “CEO Pay Ratio”, “Pay Versus Performance”, “Equity Grant Practices”, “Securities Authorized for Issuance Under Equity Compensation Plans”, “Audit Committee Matters”, “Certain Relationships and Related Transactions”, “Proposal 4: Approval of CEO Performance Award”, “Summary of the Proposed CEO Performance Award”, “Reasons for Approval of the CEO Performance Award”, “Market Capitalization Hurdles with Cumulative Performance EBITDA Hurdles Create Real Value for Stockholders”, “Background of the CEO Performance Award”, “Key Terms of the Proposed CEO Performance Award”, “Other Details Regarding the Proposed CEO Performance Award”, “The Compensation Committee’s Assessment of the CEO Performance Award”, “Practical Implications of the CEO Performance Award” and “Appendix A: CEO Performance Award Agreement”. To the extent holdings of such persons in the Company’s securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information can also be found in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the SEC on March 24, 2026, which is available here.
As of the date hereof, GameStop directly beneficially owns 4,343,725 shares of common stock of eBay, par value $0.001 per share (the “Common Stock”), and has further entered into the long-side of a series of American-style put/call option transactions (the “Put/Call Pairs”), expiring February 23, 2028, with an unaffiliated financial institution counterparty that provide economic exposure to a further 39,046,658 shares of Common Stock. The Put/Call Pairs were only settleable in cash until such time as GameStop provided the unaffiliated financial institution counterparty with reasonable evidence that all applicable filings had been made and any applicable waiting periods had expired or approvals had been received, as applicable, under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act Condition”). On June 3, 2026, the HSR Act Condition was satisfied, and as a result, GameStop (in the case of the call portion of the Put/Call Pairs) and the unaffiliated financial institution counterparty (in the case of the put portion of the Put/Call Pairs) electing to settle the Put/Call Pairs now have the option, but not the obligation, to elect for physical settlement of the shares of Common Stock underlying such Put/Call Pairs in lieu of cash settlement. GameStop does not have voting power or dispositive power with respect to the shares of Common Stock underlying such Put/Call Pairs unless and until such Put/Call Pairs are physically settled for Common Stock. On May 3, 2026, GameStop delivered to the board of directors of eBay a non-binding proposal to acquire all of the outstanding Common Stock that it does not already own at a price of $125 per share of Common Stock, to be paid in a combination of cash and GameStop common stock. As a result of the foregoing, GameStop may be deemed to have direct or indirect interests with respect to eBay that are in addition to, or different from, those of other eBay shareholders.
Further information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in any proxy statement/prospectus and/or other relevant materials to be filed with the SEC in connection with the Proposed Transaction when they become available.
Disclaimer
Any information concerning eBay contained in this communication has been taken from, or based upon, publicly available information. Although GameStop does not have any information that would indicate that any information contained in this communication that has been taken from such documents is inaccurate or incomplete, GameStop does not take any responsibility for the accuracy or completeness of such information. To date, GameStop has not had access to the books and records of eBay.
Ryan Cohen stáhl návrh odměny za 35 miliard USD, aby se soustředil na ozdravení GameStopu a pokus o koupi eBay. GameStop má tento týden zveřejnit další detaily.
Ryan Cohen is the CEO of GameStop. GameStop GameStop CEO Ryan Cohen is so determined to buy eBay that he's taken his own $35 billion pay deal off the table.
Cohen has withdrawn the proposed compensation package because he wants to fully focus on revitalizing GameStop's business and acquiring eBay, GameStop said in a press release on Tuesday.
Cohen has reiterated his intention to acquire the online marketplace in recent days, despite the target being more than five times larger than GameStop, with a market value of $48 billion, and eBay rejecting Cohen's cash-and-stock offer in May.
Chewy's billionaire cofounder explained his interest in the tie-up during an episode of the "All-In" podcast released on Tuesday.
He highlighted the opportunity to cut eBay's bloated costs; to make it a big player in live commerce by using GameStop's roughly 1,600 US stores to fulfill orders and serve as studios for content creators; and to expand into digital collectibles by creating a marketplace for digital items in video games.
Cohen also said he'll put $500 million of his own money into the deal to demonstrate his conviction.
"When you look at how much the businesses together make sense, and then you look at the fact that it's within my circle of competence, I can't stop thinking about it," Cohen said.
In a June 19 interview with Piers Morgan, Cohen declined to rule out a hostile takeover, meaning he might attempt to buy the business against the board's wishes.
At Cohen's request, GameStop has removed the proposed CEO Performance Award from its proxy statement, it said in Tuesday's press release.
The video-game retailer's shareholders were poised to vote on the pay package ahead of the company's annual meeting on July 7.
Cohen stood to secure a total of 171.5 million share options if he grew GameStop's market value to $100 billion, and its adjusted profits to $10 billion. Those shares would be worth in excess of $35 billion
He's faced backlash over his proposed pay package. Michael Burry of "The Big Short" fame revealed in early May that he'd sold his GameStop stake because he was skeptical of the eBay deal, and suggested Cohen was pursuing the heavily dilutive transaction because it would help him hit his market cap and profit milestones, generating a huge payout for him.
GameStop noted in a filing that Cohen wouldn't have received a windfall purely for acquiring eBay, as his performance hurdles stood to be adjusted to reflect a stock-based acquisition.
In its press release, GameStop said it would provide fresh details about its plans to purchase eBay this week, including its strategic rationale and how it plans to run the combined company.
GameStop and eBay did not immediately respond to requests for comment.
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Theron Mohamed is a London-based correspondent on the Trending team at Business Insider. His coverage spans finance, investing, wealth, markets, and the economy.Theron joined BI in 2019 as a reporter at Markets Insider and rose to the rank of correspondent before moving to the Trending team in 2024. He previously covered tech, media, and telecom stocks for Investors Chronicle magazine and had a brief stint on the Financial Times' Data team. He interned at the Wall Street Journal in New York where he primarily wrote for Heard on the Street.Theron has freelanced for The Independent, The Telegraph, WIRED, and several smaller publications. He holds an undergraduate degree in geography from the London School of Economics, and a master's degree in journalism from Columbia University.Theron often covers Warren Buffett, Michael Burry, Jeremy Grantham and other top-flight investors. He also writes about the world's wealthiest people and shares financial advice from all manner of rich and successful people.Email Theron at [email protected] and follow him on X @theron_mohamed.Expertise
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