Why Dave & Buster's Stock Is Trading Higher Today

Dave & Buster's Entertainment Inc PLAY shares are trading higher Tuesday after the company reported better-than-expected financial results.

Dave & Buster's said first-quarter revenue increased 24.1% from the first quarter of 2019 to $451.1 million, which beat the estimate of $440.84 million, according to data from Benzinga Pro. Total comparable sales increased 10.9% over 2019 levels. 

The company reported quarterly earnings of $1.35 per share, which beat the estimate of $1.16 per share. 

"While we are still experiencing pressures from wage and commodity inflation, our margins continued to improve as we have offset inflationary costs with a more efficient labor model, costs savings and efficiencies and thoughtful pricing actions," said Michael Quartieri, CFO of Dave & Buster's.

Through the first five weeks of the second quarter, the company said its comparable sales have increased 12.2% from the same period in 2019.

See Also: Morning Brief: Top Financial Stories Dominating on Tuesday, June 7

PLAY Price Action: Dave & Buster's has traded between $29.83 and $52.53 over a 52-week period.

The stock was up 6.03% at $39.50 at time of publication.

Photo: courtesy of Dave & Buster's.