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Gap Cuts FY Outlook After Q1 Results Below Expectations

(PLX AI) – Gap Q1 revenue USD 3,500 million vs. estimate USD 3,460 million.Q1 operating income USD -197 millionQ1 gross margin 31.5% vs. estimate 35.3%Q1 net income USD -162 millionOutlook FY adjusted EPS USD 0.3-0.6, down from USD 1.85-2.05 …

  • (PLX AI) – Gap Q1 revenue USD 3,500 million vs. estimate USD 3,460 million.
  • Q1 operating income USD -197 million
  • Q1 gross margin 31.5% vs. estimate 35.3%
  • Q1 net income USD -162 million
  • Outlook FY adjusted EPS USD 0.3-0.6, down from USD 1.85-2.05 previously
  • Outlook FY EBIT margin 1.8-2.8%, down from 6.3-6.8% previously
  • Says expect our performance to improve modestly in the back half of the year and accelerate as we enter fiscal 2023
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Gap Cuts FY Outlook After Q1 Results Below Expectations (PLX AI) – Gap Q1 revenue USD 3,500 million vs. estimate USD 3,460 million.Q1 operating income USD -197 millionQ1 gross margin 31.5% vs. estimate 35.3%Q1 net income USD -162 millionOutlook FY adjusted EPS USD 0.3-0.6, down from USD 1.85-2.05 …

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