GameStop Discloses First Quarter 2026 Results

https://investor.gamestop.com/news-releases/news-details/2026/GameStop-Discloses-First-Quarter-2026-Results/default.aspx **FIRST QUARTER HIGHLIGHTS** Highest quarterly net income in GameStop’s 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. **FIRST QUARTER OVERVIEW** * Net sales were $835.3 million for the first quarter, compared to $732.4 million in the prior year's first quarter. * Selling, general and administrative (“SG&A”) expenses were $201.6 million for the first quarter, compared to $228.1 million in the prior year's first quarter. * Operating income was $143.3 million for the first quarter, the highest first quarter operating income in GameStop's history, compared to an operating loss of $10.8 million in the prior year's first quarter. * Excluding impairment and other items, adjusted operating income was $140.5 million for the first quarter compared to an adjusted operating income of $27.5 million in the prior year's first quarter. * Net income was $389.6 million for the first quarter, compared to net income of $44.8 million for the prior year’s first quarter. * Excluding impairments, gain on digital assets and related receivables, unrealized gain on derivative asset, and other items, adjusted net income was $179.3 million for the first quarter compared to an adjusted net income of $73.1 million for the prior year's first quarter. * Total cash, cash equivalents, marketable securities, digital assets and related receivables, and collateral pledged for derivative asset were $9.7 billion at the close of the first quarter. This included $8.4 billion of cash, cash equivalents, and marketable securities (compared to $6.4 billion at the close of the prior year's first quarter), $1.0 billion in collateral pledged for derivative asset during the quarter, and approximately $0.4 billion in digital assets and related receivables. * On June 2, 2026, the Company's Board of Directors unanimously approved a discretionary $2.0 billion share repurchase authorization through June 2, 2029, replacing the prior authorization from March 2019.