GameStop reports highest quarterly net income in company history of $389.6 million. Highest first quarter operating income in GameStop’s history of $143.3 million. Net sales grew 14% year-over-year, driven by collectibles. Cash, marketable securities, digital assets and related receivables, and collateral pledged for derivative asset of $9.7 billion.
https://t.co/BAu3T6V9w4
$GME Q1 2026 EARNINGS REPORT:
1. Operating income reached $143.3 million, compared to just $10.8 million a year ago. ✔️
2. Net income came in at $389.6 million, up from $44.8 million last year. ✔️
That represents roughly a 770% increase year-over-year.
3. Revenue grew 14% YoY to $835.3 million.
Many expected continued sales declines but GameStop posted solid top line growth this quarter 😮💨
4. SG&A expenses declined to $201.6 million from $228.1 million despite higher sales.
5. GameStop ended the quarter with $9.7 billion in:
Cash
Marketable securities
Digital assets
Related receivables
Derivative collateral
Including:
$8.4B cash and marketable securities
$1.0B derivative collateral
$0.4B digital assets
• THE BREAKING NEWS HERE:
6. The Board approved a new $2.0 billion share repurchase authorization through June 2029.
At a share price around $21:
$2B could retire roughly 95 million shares
More than 20% of the current share count
This does not mean they will immediately buy shares, but management now has the authority to do so whenever they see fit.
Three things matter most:
Revenue growth returned.
Operating profit surged.
A $2B buyback authorization was approved.
The bear thesis that GameStop is simply a declining retailer becomes much harder to defend when the company is producing record operating profits while sitting on nearly $10 billion of liquidity and assets. ✍🏻
Coinbase experienced service disruptions due to increased temperatures in the affected Availability Zone (use1-az4) in the AWS US-EAST-1 Region.
We will begin the process to re-enable trading on our markets shortly. All markets would be placed in “Cancel Only” mode before we move to re-enable trading.
On $PBI earnings call today it was stated:
"We have the '27s coming up. We have cash and liquidity to take that out. And our expectation would be within the next couple of months that we should be able to pay off the 27s without having to issue any additional debt." What?!? 🤯🤯