Gap, Inc. (NYSE:$GPS) shares rallied during Thursday’s extended trading session after the San Francisco-based company reported better-than-expected Q2 results and boosted its 2017 earnings outlook.
Important Q2 Numbers:
– Earnings more than doubled to $271 million (68 cents a share) from $125 million (31 cents a share) in 2016.
– In regards to an adjusted basis, Gap would have brought in 58 cents.
– Revenue dropped to $3.8 billion from $3.85 billion
– Same-store sales rose 1% in Q2, which is an improvement from a decline of 2% in the same period in 2016
2017 Guidance:
– Gap boosted its 2017 adjusted EPS to a range of $2.02 to $2.10 versus May’s projections of $1.95 to $2.05.
After hours, Gap shares jumped 11%.
Featured Image: twitter
