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GameStop climbs 6% on record Q1 net income of $389.6M, boosted by eBay derivative gains
- GameStop shares rose after the company reported its highest quarterly net income on record, though largely driven by non-operating gains.
- The stock closed up 6.02% at $22.18 on June 3, supported by reported net income of $389.6 million.
- Adjusted net income of $179.3 million, excluding one-time gains, reflects underlying operational improvement in collectibles and cost management.
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Conclusion
Price rose 6.02% to $22.18 on June 3 on volume of 17.73M vs 20-day average of 9.27M. Reported net income was $389.6M, which included a $268.4M unrealized gain on eBay options and $83.7M in interest income. Adjusted net income (excluding one-time items) was $179.3M. Net sales grew 14% to $835.3M, driven by collectibles which reached 42% of revenue vs. 29% a year prior.