Gap Fiscal 2Q Earnings Snapshot

SAN FRANCISCO (AP) _ Gap Inc. (GPS) on Thursday reported fiscal second-quarter net income of $168 million.The San Francisco-based company said it had net income of 44 cents per share. Earnings, adjusted for pretax expenses and non-recurring costs, were 63 cents per share.The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.The clothing chain posted revenue of $4.01 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $4.02 billion.Gap expects full-year earnings in the range of $2.05 to $2.15 per share.Gap shares have decreased 32% since the beginning of the year, while the Standard & Poor’s 500 index has risen 17%. In the final minutes of trading on Thursday, shares hit $17.51, a decrease of 46% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GPS at https://www.zacks.com/ap/GPSThe Associated Press

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