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Omar Venerio
Articles (1401) 

Wall Street High on Tuesday

Dave & Buster's jumps on strong earnings

The U.S. stock market advanced on Tuesday, with investors looking at the start of Federal Reserve's meeting.

Shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) jumped on Tuesday after the company posted first-quarter earnings per share of $1.04 on revenue of $332.19 million, which grew 9.2% from the prior-year period. The company beat revenue expectations by $10.14 million and earnings estimates by 11 cents.

Earnings before interest, taxes, depreciation and amortization decreased 2.3% to $86.1 million from $88.2 million in the comparable quarter of 2017, while adjusted EBITDA increased 0.4% to $95.9 million from $95.6 million. As a percentage of total revenues, EBITDA decreased 310 basis points to 25.9% and adjusted EBITDA decreased 250 basis points to 28.9% from 31.4%.

During the quarter, the company repurchased approximately 606,000 shares for $27.4 million.

Looking ahead, the company reaffirmed its financial outlook. It expects total revenues of $1.20 billion to $1.24 billion, net income of $95 million to $110 million and EBITDA of $255 million to $275 million.



Global markets

In Europe, the U.K.'s FTSE 100 lost 0.43%, France's CAC 40 retreated 0.38% and Germany's Dax fell 0.0048%, while Spain's Ibex 35 advanced 0.16%.

In Asia, markets closed in the green. Japan's Nikkei 225 gained 0.33%, Hong Kong's Hang Seng jumped 0.13%, India’s BSE Sensex advanced 0.59% and China's Shanghai Composite rose 0.89%.

Disclosure: The author holds no positions in any stocks mentioned. 

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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