Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) stock was down on Wednesday following the release of its earnings report for the fiscal second quarter of 2017.
During its earnings report for its fiscal second quarter of 2017, Dave & Buster’s Entertainment, Inc. lowered its outlook for the year. The company says that it is now expecting revenue for the year to range from $1.160 billion to $1.170 billion. This is bad news for PLAY stock as Wall Street is looking for revenue of $1.20 billion for fiscal 2017.
Dave & Buster’s Entertainment, Inc. also notes that it is expecting comparable stores sales for fiscal 2017 to be lower than previous estimates. It now expects comparable store sales to be up 1% to 2% from last year. It was previously expecting comparable stores sales to increase by 2% to 3% in fiscal 2017.
PLAY stock was hit hard today despite a positive earnings report for its fiscal second quarter of 2017. This includes reported earnings per share of 59 cents. This beats out analysts earnings per share estimate of 57 cents for the quarter.
Revenue reported by Dave & Buster’s Entertainment, Inc. for its fiscal second quarter of 2017 was $280.8 million. This is an increase over its revenue of $244.3 million from the same time last year. Wall Street was looking for revenue of $280.5 million for the fiscal second quarter of the year.
Net income reported by Dave & Buster’s Entertainment, Inc. for its fiscal second quarter of the year was $30.4 million. This is up from its net income of $21.5 million from the same time last year.
PLAY stock was down 8% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
