Guess stock rises after slight revenue miss and narrower loss
Guess Inc. shares rose nearly 3% in the extended session Thursday after the company slightly missed consensus estimates for revenue but lost less money than Wall Street expected. The company reported first-quarter net losses of $20.6 million, or 27 cents a share, compared with losses of $17.8 million, or 27 cents a share, in the year-ago period. Adjusted losses were 25 cents a share. Revenue rose to $536.7 million from $521.3 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 26 cents a share on revenue of $536.8 million. For the second quarter, analysts model adjusted earnings of 38 cents a share on revenue of $675 million. Guess said it expects adjusted second-quarter earnings of 27 cents to 30 cents a share. Guess stock has falen 30% in the past year, with the S&P 500 index rising 1.9%.
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