Gap Stock Soars On Q1 Earnings Beat, Retailer Raises Guidance Following Strong Performance
Portfolio Pulse from Adam Eckert
Gap Inc (NYSE:GPS) reported strong Q1 earnings, beating revenue and EPS estimates. The company raised its full-year guidance, expecting higher net sales and operating income growth. Shares surged 21.9% in after-hours trading.
May 30, 2024 | 9:13 pm
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Gap Inc reported Q1 revenue of $3.39 billion and EPS of 41 cents, both exceeding estimates. Comparable sales increased by 3% year-over-year. The company raised its full-year guidance, expecting higher net sales and operating income growth. Shares surged 21.9% in after-hours trading.
Gap Inc's strong Q1 performance, beating both revenue and EPS estimates, along with raised full-year guidance, indicates positive market sentiment. The 21.9% surge in after-hours trading reflects investor confidence in the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100