GameStop (GME) Stock Is Jumping Pre-Market. Here’s What Sparked the Move
TLDR
- GameStop Q2 net sales expected at $780M-$800M, beating the $756.85M consensus estimate
- Operating income projected at $150M-$170M, more than double last year’s $66.4M
- Net income expected at $290M-$310M, up from $168.6M a year ago
- GME recorded ~$238M in gains from converting its eBay derivative into a direct equity stake
- GameStop revised its $1.4B convertible-note exchange to include 55.5M shares plus $358.4M cash
GameStop stock climbed in Monday pre-market trading after the company posted better-than-expected preliminary Q2 results for the quarter ended August 1, 2026.
The company guided Q2 net sales of $780M to $800M. That beat the Wall Street consensus of $756.85M, even though it came in well below the $972.2M reported in the same quarter last year.
The year-over-year revenue drop is largely down to the prior year’s Nintendo Switch 2 launch, planned store closures, and the sale of its France operations. Without those one-time tailwinds, the comparison was always going to look tough.
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