Why Dave & Buster's Stock Is Sliding After Hours

Dave & Buster's Entertainment Inc PLAY shares are trading lower in Wednesday's after-hours session after the company reported financial results.

Dave & Buster's reported second-quarter revenue of $468.36 million, which beat average analyst estimates of $432.91 million, according to Benzinga Pro. The company's topline results were up 35.9% from 2019 and up 24% year-over-year.

Total comparable sales at Dave & Buster's branded stores increased 9.6% compared with the same period in 2019, while total comparable sales at Main Event branded stores increased 29.7%.

Dave & Buster's reported second-quarter earnings of 59 cents per share, which is down from earnings of $1.07 per share year-over-year.

"We experienced strong guest visitation and spending across both brands this quarter. Our teams continued to deliver high levels of service to our guests, while simultaneously beginning the process of integration into one company," said Chris Morris, CEO of Dave & Buster's.

Dave & Buster's said its business has continued to improve through the first five weeks of the third quarter, during which comparable store sales on a consolidated basis increased 22.1%.

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PLAY Price Action: Dave & Buster's has a 52-week high of $52.53 and a 52-week low of $29.59.

The stock was down 2.14% in after-hours at $43 at the time of publication.

Photo: courtesy of Dave & Buster's.