Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY), which operates a chain of casual dining and leisure facilities, has reported an increase in revenues and net income for the second quarter of 2024.
The Dallas-based company reported a net income of $40.3 million or $0.99 per share for the July quarter, higher than the $25.9 million or $0.60 per share recorded in the prior-year period. Adjusted EBITDA increased 8% annually to $151.6 million during the three months.
Driving the bottom line growth, second-quarter revenues rose 3% year-over-year to $557.1 million, even as comparable store sales declined 6.3%. Entertainment revenue grew 4%, while Food and Beverage revenue remained unchanged.
Chris Morris, the company’s CEO, said, “During the quarter, we grew Revenue and Adjusted EBITDA, expanded our Adjusted EBITDA margins and generated strong operating cash flow which allowed us to invest in the business and return cash to shareholders.”