Dave & Buster’s Earnings: PLAY Stock Rises 2% on Solid Q3 Performance

Dave & Buster’s (NASDAQ:PLAY) earnings for the entertainment company’s third quarter of 2019 have PLAY stock up after-hours on Tuesday. This is thanks to diluted earnings per share of 2 cents, which matches Wall Street’s estimate. Revenue of $299.35 million is also above the $296.36 million that analysts were expecting from PLAY.

Dave & Buster's Earnings: PLAY Stock Rises 2% on Solid Q3 Performance

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Let’s take a closer look at the most recent Dave & Buster’s earnings report.

  • Diluted per-share earnings are down 33.33% from the 3 cents reported in Q3 2018.
  • Revenue comes in 5.75% lower than the $282.14 million from the same time last year.
  • The Dave & Buster’s earnings report also includes an operating income of $6.50 million.
  • That’s a 57.98% drop from the $15.47 million reported in the third quarter of the previous year.
  • Net income of $482,000 is 95.94% worse YoY than $11.86 million.

Brian Jenkins, Chief Executive Officer of Dave & Buster’s, says this about the PLAY stock earnings.

“We delivered 6% revenue growth in the third quarter driven by strong new store performance, and are encouraged by our progress advancing our near-term priorities to drive improved performance and sustainable shareholder value.”

The Dave & Buster’s earnings report also includes an update to its 2019 outlook. It now expects revenue to range from $1.347 billion to $1.354 billion. The previous revenue range was  $1.338 billion to $1.359 billion. Wall Street is looking for revenue of $1.35 billion in 2019.

PLAY stock was up 2.03% after markets closed on Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/12/dave-busters-earnings-bump-play-stock-up/.

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