Benzinga | Sep 10, 2021 05:57AM EDT

Dave & Buster's Entertainment Q2 Earnings Top Estimates

* Dave & Buster's Entertainment Inc (NASDAQ:PLAY) reported second-quarter FY21 revenue growth of 643% year-on-year to $377.64 million, beating the analyst consensus of $356.61 million.

* Revenues increased 9.6% from Q2 FY19. Comparable store sales increased 3.6% against Q2 FY19.

* The operating margin was 21%, and operating income for the quarter was $79.2 million against a loss of $(81.1) million in Q2 FY20.

* Dave & Buster's Entertainment held $107.8 million in cash and equivalents as of August 1, 2021.

* Adjusted EBITDA was $119.2 million compared to a loss of $(38.5) million last year. The adjusted EBITDA margin was 31.6%.

* EPS of $1.07 beat the analyst consensus of $0.58.

* Outlook: Dave & Buster's sees Q3 EBITDA to be higher than Q3 FY19 EBITDA of $39.8 million.

* It sees Q3 comparable store sales approximately in line with the quarter-to-date trends compared to Q3 FY19.

* Price Action: PLAY shares closed higher by 1.93% at $35.44 on Thursday.