Surging GameStop sales attributed to collectibles and hardware expansion

Retailer posts Q2 net income of $168.6 million, values Bitcoin assets at approximately $529 million during the same period.

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2025 September 17 . 7:34 PM

2 min read

Surge in GameStop sales propelled by boost in collectibles and hardware categories

Surging GameStop sales attributed to collectibles and hardware expansion

GameStop Reports Strong Q2 Earnings with Bitcoin Gains

GameStop, the video game retailer, has announced its Q2 earnings results, revealing a significant increase in net income and a substantial unrealized gain from its Bitcoin holdings.

The company's net income for the period reached $168.6 million, a marked improvement from the year prior's $14.8 million. This surge can be attributed to the strong performance in the collectibles category, hardware, and accessories, which contributed to a year-over-year net sales gain of 21.8%, amounting to $972.2 million.

In a notable move, GameStop purchased 4,710 Bitcoin during the second quarter, which was worth approximately $500 million at the time of purchase in May. The value of these Bitcoin holdings at the end of the quarter stood at $528.6 million, resulting in an unrealized gain of $28.6 million.

However, the company did not provide forward-looking guidance or conduct an earnings call. Instead, GameStop's CEO, Ryan Cohen, shared his thoughts on the Q2 earnings results on his X (formerly Twitter) account on Tuesday.

The strong Q2 performance contrasts with the first quarter results, which showed sharp, double-digit declines in software, hardware, and accessories. In an effort to streamline operations, GameStop shuttered nearly 600 locations in fiscal 2024.

The company has also made strategic decisions to divest its Canadian and French operations. GameStop sold off its Canadian business, Electronics Boutique Canada Inc., to entrepreneur Stephan Tetrault a few months ago. The sale of operations in France is expected to close within the next 12 months.

Looking ahead, GameStop anticipates closing a significant number of additional stores in fiscal 2025, though a specific set of stores has not been identified yet. This move is part of the company's ongoing strategy to focus on its core business and improve its financial performance.

The information about the Q2 earnings results was disclosed in a company press release and a U.S. Securities and Exchange Commission filing on Tuesday.