GameStop Reports Record First Quarter Earnings

By Chris Stiles • Wednesday, June 03 13:22 • Permanent Link

GameStop reported a sharp improvement in its first quarter ended May 2, 2026, with net income rising to $389.6 million from $44.8 million a year earlier.

Net sales climbed 14% to $835.3 million from $732.4 million in the prior-year quarter. SG&A expenses fell to $201.6 million from $228.1 million, a drop of $26.5 million.

Operating income swung to $143.3 million from an operating loss of $10.8 million a year ago. On an adjusted basis, operating income increased to $140.5 million from $27.5 million.

The company’s first-quarter net income was the highest in its history, and operating income was also a first-quarter record.

Adjusted net income rose to $179.3 million from $73.1 million in the same quarter last year.

GameStop ended the quarter with $9.7 billion in total cash, cash equivalents, marketable securities, digital assets and related receivables, and collateral pledged for derivative asset. That included $8.4 billion in cash, cash equivalents and marketable securities, up from $6.4 billion at the end of the prior-year first quarter. The quarter also included about $1.0 billion in collateral pledged for derivative asset and roughly $0.4 billion in digital assets and related receivables.

The board also approved a new $2.0 billion share repurchase authorization, replacing the prior authorization from March 2019. Today the company's shares have moved 6.98% to a price of $22.38. For the full picture, make sure to review GameStop's 8-K report.

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