SAN FRANCISCO (dpa-AFX) - Gap Inc. (GPS) released earnings for its first quarter that increased from the same period last year.
The company's earnings came in at $227 million, or $0.60 per share. This compares with $164 million, or $0.42 per share, in last year's first quarter.
Excluding items, Gap Inc. reported adjusted earnings of $90 million or $0.24 per share for the period.
Analysts had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 1.9% to $3.71 billion from $3.78 billion last year.
Gap Inc. earnings at a glance:
-Earnings (Q1): $90 Mln. vs. . last year. -Analysts Estimate: $0.32 -Revenue (Q1): $3.71 Bln vs. $3.78 Bln last year.
-Guidance: Full year EPS guidance: $2.05 - $2.15
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