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GameStop Q2 Profit Jumps While Sales Slide on eBay Investment Gains

GameStop logoGameStop
Sig3.22Sen-1.78Env0.00Soc0.00Gov+0.55
eBay logoeBay
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Preliminary fiscal second-quarter results point to net income of $290 million to $310 million, up from $168.6 million a year earlier, but about $238 million came from GameStop’s eBay equity and derivative positions, offset by a $75 million loss on digital assets. Revenue is expected to drop to $780 million to $800 million. The company also used $358.4 million in cash and stock to exchange convertible notes to limit dilution, with 43.4 million eBay shares valued at $4.95 billion.

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