Recap: Gap Q1 Earnings
Portfolio Pulse from Benzinga Insights
Gap (NYSE:GPS) reported Q1 earnings with an EPS of $0.01, beating estimates by 106.25%. However, revenue was down $201 million from the same period last year.
May 25, 2023 | 8:25 pm
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Gap's Q1 earnings beat estimates with an EPS of $0.01, outperforming the expected -$0.16. However, revenue declined by $201 million compared to last year.
Gap's better-than-expected earnings may lead to a short-term positive impact on its stock price. However, the decline in revenue could offset some of the gains. Last quarter, when the company missed EPS estimates, the share price dropped by 6.13% the next day.
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RELEVANCE 100