# GameStop posts 14% rise in quarterly revenue, buoyed by strong collectibles demand.

*business · news · 2026-06-03 · The Star*

## Key points

- GameStop posted a 14% rise in quarterly revenue, reaching $835.3 million for the first quarter.
- GameStop's board approved a new $2 billion share repurchase program through June 2, 2029.
- GameStop increased its stake in eBay to 6.6% while pursuing a rejected $56 billion acquisition offer.
- First quarter net income surged to $389.6 million, up from $44.8 million last year.

June 2 (Reuters) - Videogame retailer ⁠GameStop posted a 14% rise in quarterly revenue ⁠on Tuesday, buoyed by strong collectibles demand, and ‌said its board approved a new $2 billion share repurchase program. The company has shifted focus from traditional hardware sales toward trading cards and ​collectibles as gamers move toward digital downloads ⁠and online purchases. Its ⁠shares jumped 7.4% in extended trading. For the first quarter ⁠ended May ‌2, GameStop's net sales came in at $835.3 million, compared with $732.4 million a year ago. The results ⁠come as the company presses ahead with ​its bid to ‌acquire eBay after the e-commerce company rejected its unsolicited $56 ⁠billion offer ​last month. GameStop increased its stake in eBay to about 6.6% from around 5%, while the videogame retailer's CEO Ryan ⁠Cohen said he remained committed to acquiring ​the company and could take the offer directly to shareholders if needed. EBay, which is roughly five times as large ⁠as GameStop, called the proposal "neither credible nor attractive." Cohen has argued that by combining GameStop and eBay he could cut costs and find synergies to create a much bigger ​enterprise. GameStop reported net income of $389.6 million ⁠for the first quarter, compared with $44.8 million a year ago. The ​new share buyback program would ‌run through June 2, 2029, replacing ​the prior authorization from March 2019. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shilpi Majumdar)

**Companies:** GameStop
**Countries:** United States

[Read the full story on The Star](https://www.thestar.com.my/tech/tech-news/2026/06/03/gamestop-reports-14-rise-in-quarterly-revenue-unveils-2-billion-share-buyback)

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