Gap Inc. Q2 Earnings Drop 3%

(RTTNews) - Gap Inc. (GPS) released a profit for second quarter that decreased compared to the same period last year.

The company said its profit dropped to $231 million, or $0.58 per share. This was lower than $238 million, or $0.60 per share, in last year's second quarter.

Analysts had expected the company to earn $0.52 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.3% to $3.80 billion. This was down from $3.85 billion last year.

Gap Inc. earnings at a glance:

-Earnings (Q2): $231 Mln. vs. $238 Mln. last year. -Earnings Decline (Y-o-Y): -2.9% -EPS (Q2): $0.58 vs. $0.60 last year. -EPS Decline (Y-o-Y): -3.3% -Analysts Estimate: $0.52 -Revenue (Q2): $3.80 Bln vs. $3.85 Bln last year. -Revenue Change (Y-o-Y): -1.3%

-Guidance: Full year EPS guidance: $2.02 - $2.10