=Gap (GPS) reported earnings on Thur 24 May 18 (a/h)

Gap misses by $0.04, beats on revs; reaffirms FY19 EPS & comp guidance; Q1 comps +1% 

• Reports Q1 (Apr) earnings of $0.42 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus of $0.46; revenues rose 10.0% year/year to $3.78 bln vs the $3.6 bln Capital IQ Consensus; Q1 comps +1% versus +2% last year
• Coreaffirms guidancefor FY19, sees EPS of $2.55-2.70, excluding non-recurring items, vs. $2.62 Capital IQ Consensus Estimate. The company continues to expect comparable sales for fiscal year 2018 to be flat to up slightly.