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Dave & Buster's (PLAY) Posts Q3 Earnings Beat, Revenue Miss

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Dave & Buster's Entertainment, Inc. (PLAY) just released its third-quarter financial results, posting earnings of $0.29 per share and revenues of $250 million. Currently, Dave & Buster's is a Zacks Rank #3 (Hold) and is up over 5% to $55.69 per share in after-hours trading shortly after its earnings report was released.

PLAY:

Beat earnings estimates. The company posted earnings of $0.29 per share, topping our earnings estimates of $0.23 per share.

Missed revenue estimates. The company saw revenue figures of $250 million, missing our consensus estimate of $255.38 million.

Dave & Buster's Q3 revenues jumped 9.3% year-over-year, despite comparable store sales falling 1.3%. The company’s net income jumped from $10.8 million to $12.2 million.

The company opened one new store in the third quarter of 2017, after opening two in the year-ago period.

Dave & Buster's lowered its expectations and now expects to post full-year revenues between $1.148 billion and $1.155 billion. The company noted that the new, lowered sales figures are based on the impact of hurricanes, which includes the delay of a new opening in Puerto Rico.

“While it is still early, we are also pleased with the results from our 2017 store openings, which reaffirms the concept’s broad based appeal,” CEO Steve King said in a statement.

“We continue to expect to open fourteen new stores this year, representing 15% unit growth. In addition, we are excited to announce a new smaller store format that expands our brand potential and extends our growth runway.”

Here’s a graph that looks at PLAY’s Price, Consensus and EPS Surprise history:

Dave & Buster's Entertainment Inc. is an owner and operator of venues in North America that combine dining and entertainment. The Company offers its customers the opportunity to Eat Drink Play and Watch in one location.

Check back later for our full analysis on PLAY’s earnings report!

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