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For the third quarter of 2022 GPS had turn a round to earnings by exhibiting EPS of $0.77 per share compare to $-0.40 a year prior and earnings per share turned positive from $-0.13 per share from the previous quarter.
Revenue grew gently by 2.435 % to $
4.04 billions from $3.94 billions in the similar quarter a year prior and sequentially Revenues advanced by 4.719 % from $3.86 billions.
Gap Inc saw net earnings of $282.000 millions in the third quarter of 2022 an improvement versus a net loss of $-152.000 millions in the similar quarter a year ago.
But, to be fair enough, the Gap Incs' EPS improvement was fueled by the $114.00 million tax benefit, subtracting it, the third quarter of 2022 earnings are much more moderate. Gap Inc also emphasized it's improving profit margins, where net margin rose to 6.98% in third quarter of 2022, and operating margin edged up to 4.61%.
Operating earnings, however, rose 21.57% to $186 millions.
Gap Inc is expected to report next financial earnings on March 14, 2023.