Dave & Buster’s stock was on the rise Friday following the release of its earnings report for the second quarter of 2018.
Dave & Buster’s (NASDAQ:PLAY) earnings report for the second quarter of the year includes earnings per share of 84 cents. This is up from the company’s earnings per share of 71 cents from the same time last year. It was also good news for Dave & Buster’s stock by beating out Wall Street’s earnings per share estimate of 67 cents for the quarter.
Net income reported by Dave & Buster’s for the second quarter of 2018 came in at $33.78 million. This is an increase over the entertainment company’s net income of $30.36 million that was reported in the second quarter of 2017.
During the second quarter of the year, Dave & Buster’s reported operating income of $45.93 million. The company’s operating income reported in the same period of the year prior was $39.16 million.
Dave & Buster’s also reported revenue of $319.19 million for the second quarter of 2018. This is better than the company’s revenue of $280.71 million that was reported in the second quarter of the previous year. It was also a boon to Dave & Buster’s stock by coming in above analysts’ revenue estimate of $315.25 million for the period.
Dave & Buster’s stock also likely got a boost from an increase to its revenue outlook for the full year of 2018. The company now expects revenue for the year to range from $1.230 billion to $1.255 billion. The previous expectation was for between between $1.200 billion and $1.240 billion. Wall Street is looking for revenue of $1.24 billion for the year.
PLAY stock was up 7% as of Friday morning and is up 5% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
