Why Dave & Buster's Stock Triumphed Today
Like a successful video game play, Dave Buster's Entertainment (NASDAQ: PLAY) was a stock market winner on Wednesday. The company's share price leaped nearly 5% higher following the release of its second-quarter results, making it an outlier on a day when the S 500 index booked a gain of slightly more than 1%.
Dave Buster's management unveiled those results after market hours Tuesday, which is why the company was a hot item with investors the following day. For the period, the company earned revenue of just over $557 million, which was nearly 3% higher year over year. This occurred despite a 6% fall in same-store sales.
Meanwhile, non-GAAP (adjusted) net income saw a more robust increase, climbing to almost $46 million ($1.12 per share) from the year-ago profit of slightly below $41 million.
Source Fool.com
