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Gap tops 2Q profit expectations, meets revenue forecasts

3377f9204f9f7410VgnVCM100000d7c1a8c0____-Earns Gap-1.jpg

This May 14, 2014 photo shows the sign on a GAP store in the Shadyside section of Pittsburgh. On Thursday, Aug. 21, 2014, Gap Inc. is scheduled to report quarterly financial results after the market closes. (AP Photo/Gene J. Puskar) (The Associated Press)

Gap Inc. (GPS) on Thursday reported fiscal second-quarter net income of $332 million.

On a per-share basis, the San Francisco-based company said it had profit of 75 cents. Earnings, adjusted for non-recurring gains, came to 70 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The clothing chain posted revenue of $3.98 billion in the period, which matched Street forecasts.

Gap shares have risen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 8 percent. At the close of trading on Thursday, shares were trading at $43.18, a climb of 1 percent in the last 12 months.


This story was generated automatically by Automated Insights ( using data from Zacks Investment Research. Full GPS report:


Keywords:Gap,Earnings Report