PLAY - Why Dave & Buster's Entertainment Stock Jumped as Much as 14.5% Today
Shares of Dave & Buster's (NASDAQ: PLAY) , which operates entertainment and restaurant venues, rose strongly on March 29, gaining as much as 14.5% at one point during the day. By roughly 1:30 p.m. ET, the stock was still up around 13.5%. The big news was the company's earnings release after the close on March 28.
Dave & Buster's fourth-quarter 2021 revenue came in at $343.1 million, up nearly 194% from the same period in 2020, a quarter that was materially impacted by the pandemic. Compared with the fourth quarter of 2019, revenue fell 1.2%. That same theme played out for full-year 2021 results as well, with a nearly 199% improvement in sales versus full-year 2020 and a 3.7% drop compared with 2019. Essentially, sales are largely back to where they were prior to the pandemic, but not quite all the way. Analysts had been expecting revenue in the fourth quarter to total $364 million.
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Why Dave & Buster's Entertainment Stock Jumped as Much as 14.5% Today