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The video game retailer posted an estimated $290 million to $310 million in net income, boosted by gains on its eBay stake
Cheng Xin / Getty Images
GameStop $GME posted preliminary second-quarter results on Monday showing net income between $290 million and $310 million, up from $168.6 million in the same period a year ago, even as net sales fell to a range of $780 million to $800 million from $972.2 million.
The retailer said net income for the quarter reflects approximately $238 million in net gains from its eBay derivative asset and equity investment, with that figure partially reduced by around $75 million in losses on digital assets and related receivables. Operating income is expected to land between $150 million and $170 million, compared with $66.4 million in the prior-year quarter.
