Why GME Stock Gained Nearly 8% In After-Hours Trading Today

• GameStop reported Q1 earnings of $0.30, beating estimates of $0.16, while revenue rose to $835.3 million against $766.6M expected.
• The company posted record net income of $389.6 million and record operating income of $143.3 million for the quarter.
• Board approved a $2 billion share buyback program through 2029, replacing its previous long-standing authorization.

GameStop Corp. (GME) reported its first-quarter results on Tuesday after the closing bell, surpassing analyst expectations. The company said it posted record quarterly net income of $389.6 million and record first-quarter operating income of $143.3 million, marking its strongest performance on both metrics.

Shares of the company rose nearly 8% in after-hours trading following the announcement. 

GME Post Earnings Beat, Launches $2B Buyback Plan

GameStop reported adjusted earnings per share of $0.30 for the first quarter ended May 2, 2026, significantly above analyst expectations of $0.16, according to Fiscal.ai.

Revenue for the quarter came in at $835.3 million, up from $732.4 million a year earlier and ahead of estimates of $766.64 million. The videogame retailer on Tuesday said growth was driven primarily by strength in its collectibles segment.

GameStop’s selling, general and administrative expenses fell to $201.6 million from $228.1 million a year ago, reflecting tighter cost controls.

The company ended the quarter with $9.7 billion in total cash, cash equivalents, marketable securities, digital assets, and related receivables, underscoring a strong liquidity position. 

GameStop Approves $2B Buyback Plan Through 2029

GameStop is also planning to buy back shares. The company announced a new $2 billion share repurchase program approved by its board on June 2, 2026, which will run through June 2029 and replace the prior authorization from 2019.

The move comes after GameStop last month made a $56 billion offer for eBay (EBAY), which was ultimately rejected by the company over financing doubts. eBay reportedly called the proposal “neither credible nor attractive.” 

GME Stock: What Stocktwits Retail Sentiment Says

Retail sentiment on Stocktwits for GME improved to ‘neutral’ on Tuesday from ‘bearish’ a day earlier.

The GME stock has fallen nearly 30% in the past 12 months. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.