Dave & Buster's shares rose 6.66% to $53.84 in late trading, after the game-themed restaurant chain reported fourth-quarter 2018 earnings of 66 cents per share, beating the 63 cents estimate of analysts surveyed by Zacks Investment Research.
Dave & Buster's also beat Wall Street revenue estimates, coming in at $331.8 million, or more than $5 million above the $326.5 million average of analysts polled by Zacks. That was also up from $304.9 million in the fourth quarter of 2017, representing a 15.7% revenue increase.
The restaurant and arcade chain reported same-store sales growth of 2.9% for the quarter.
"We are pleased to finish the year on a strong note. On a comparable-week basis, we drove double-digit revenue growth in Q4 as comparable-store sales increased 2.9% and new store performance remained strong," said CEO Brian Jenkins.
Still, Dave & Buster's fourth-quarter numbers were a step up from its full-year 2018 performance, which lagged in some key categories.
While the company reported a nearly 13% jump in revenue in 2018 to $1.2 billion on a comparable 52-week basis, same-store sales fell 1.6% for the year.
Dave & Buster's opened 15 new stores in 2018 compared to 14 in 2017, the company said.
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