Investing.com -- Dave & Buster’s Entertainment reported mixed first-quarter results as earnings topped, but revenue missed Wall Street expectations amid an uptick in margin growth.
Dave & Buster’s Entertainment (NASDAQ:PLAY) was up more than 3% in after-hours following the report.
The restaurant chain reported EPS of $1.45 on revenue of $597.3 million, compared with estimates of $1.27 on revenue of $604.5M.
The beat on the bottom line comes as gross margin rose to $507.0M in Q1 from $476.7M in Q4.
Comparable store sales including main event branded stores, fell 4.1% compared to the same period in 2022, though increased 10.3% from the same period in 2019, the company said.
"As a testament to the conviction we have in the long-term success of our business and the value we see in our shares, we have repurchased $200M of common stock thus far in fiscal 2023, reducing our shares outstanding by nearly 12%," it added.