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GameStop Expects Higher Q2 Profit on eBay Investment

GameStop logoGameStop
Sig2.68Sen+3.35Env0.00Soc-1.60Gov-0.80
eBay logoeBay
Sig3.20Sen+0.30Env0.00Soc0.00Gov+0.10

GameStop expects Q2 net income of $290M–$310M and operating income of $150M–$170M, citing about $238M in net gains tied to its eBay derivative and equity investment. Sales are forecast down to $780M–$800M, with lower results reflecting prior-year Switch 2 timing, planned store closures and a France divestiture. In May, it made an unsolicited non-binding bid to buy eBay, which eBay rejected.

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