GameStop Issues $1.4B Convertible Notes as Profits Rebound and Digital Shift Pressures
GameStop is back in focus after moving to issue $1.4b of senior convertible notes alongside a rebound in profitability. The company posted $418.4m net income on $3.63b revenue and $597.3m free cash flow, yet its 1-year total shareholder return fell 19.32%. The notes weigh funding flexibility against future dilution risk amid pressure from digital distribution and uncertainty around collectibles, acquisitions, and Bitcoin exposure.