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The video game retailer posted net income of $298.7 million in its fiscal second quarter, up from $168.6 million a year earlier
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GameStop $GME reported second-quarter net income of $298.7 million, or 51 cents per share, on Tuesday, up from $168.6 million, or 31 cents per share, in the same period a year ago, as gains tied to its eBay stake bolstered the bottom line. The company raised its full-year adjusted EBITDA outlook to more than $650 million, from a prior target of more than $600 million set in June.
Quarterly revenue fell to $790.2 million from $972.2 million in the year-ago period. GameStop pointed to several headwinds behind the drop, including the absence of a Nintendo Switch 2 launch tailwind from the prior year, ongoing store closures, and the sale of its French business. Adjusted earnings per share came in at 27 cents.
