Company news: Gap’s (GAP) quarterly results beat analysts’ forecasts

Gap (GAP) reported Q3 FY2024 earnings of $0.72 per share (versus $0.58 per share in Q3 FY2023), beating analysts’ consensus estimate of $0.58 per share.

The company’s quarterly revenues amounted to $3.829 bln (+1.6% y/y), beating analysts’ consensus estimate of $3.808 bln.

The company also issued upside guidance for FY2024, seeing revenues being up +1.5-2.0% y/y, which could be computed as $15.11-15.19 bln, versus its prior guidance of "up slightly" and analysts’ consensus estimate of $14.95 bln.

GAP rose to $25.40 (+15.25%) in pre-market trading.