Quarterly ResultJun 2, 2026, 04:47 PM
GameStop Reports Record Q1 Net Income of $389.6M; Approves $2B Buyback
AI Summary
GameStop Corp. announced its first quarter 2026 financial results, reporting record net income of $389.6 million and the highest first quarter operating income in its history. Net sales increased by 14% year-over-year to $835.3 million, primarily driven by the collectibles segment. The company also disclosed that its Board of Directors has approved a new discretionary $2.0 billion share repurchase authorization. Total cash and marketable securities remain robust at $9.7 billion.
Key Highlights
- GameStop reported record Q1 net income of $389.6 million, a significant increase from $44.8 million in the prior year.
- Net sales grew 14% year-over-year to $835.3 million, driven by strong performance in collectibles.
- Operating income reached $143.3 million, marking the highest first quarter operating income in company history.
- The company's Board of Directors approved a new $2.0 billion share repurchase authorization, replacing the previous one.
- Total cash, marketable securities, digital assets, and collateral stood at $9.7 billion.
- Adjusted net income was $179.3 million for the quarter, compared to $83.1 million in the prior year.
- Free cash flow was $333.1 million for the quarter, up from $189.6 million in the prior year.
Price Impact
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