GameStop Converts eBay Derivative Into Nearly $5B Equity Stake
GameStop now holds about 43.4 million eBay shares worth roughly $4.95 billion, turning a previously disclosed eBay-linked derivative into direct equity during the quarter ended Aug. 1. Even as eBay rejected GameStop’s $56 billion acquisition bid, the investment boosted results, with expected net income of $290 million to $310 million driven by about $238 million in net gains.