GameStop stock jumps 13% after record $389.6 million profit, $2B buyback
Business
GameStop's stock shot up 13% to $23.68 after the company posted its best-ever quarterly profit ($389.6 million, way up from last year) and rolled out a massive $2 billion share buyback plan.
The news has everyone talking, especially since GameStop has been through some wild ups and downs lately.
GameStop collectibles revenue jumps 65%
GameStop is leaning hard into collectibles like trading cards and action figures, which boosted sales by 14% and drove a huge 65% jump in collectibles revenue.
The company also closed more than 200 stores last year to cut costs, helping operating income rise to $143.3 million while expenses dropped.
Even though their bold bid to buy eBay didn't work out, GameStop's focus on what fans love (and smarter spending) seems to be paying off in 2026.