PUBLISHED: | UPDATED:

SAN FRANCISCO (AP) _ Gap Inc. (GPS) on Thursday reported fiscal second-quarter profit of $297 million.

The San Francisco-based company said it had profit of 76 cents per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The clothing chain posted revenue of $4.09 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $3.98 billion.

Gap expects full-year earnings to be $2.55 to $2.70 per share.

Gap shares have fallen nearly 5 percent since the beginning of the year, while the Standard & Poor”s 500 index has increased almost 7 percent. In the final minutes of trading on Thursday, shares hit $32.46, an increase of 40 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GPS at https://www.zacks.com/ap/GPS

blog comments powered by Disqus