Gap Earnings: Here’s Why the Stock is Down Now
Gap Inc. (NYSE:GPS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.98%.
Gap Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 51.06% to $0.71 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Rose 6.94% to $3.73 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gap Inc. reported adjusted EPS income of $0.71 per share. By that measure, the company beat the mean analyst estimate of $0.69. It beat the average revenue estimate of $3.68 billion.
Quoting Management: “We are pleased with our strong start to the year, especially first quarter sales,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We remain focused on continuing to deliver shareholder value.”
Key Stats (on next page)…