When Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY) reported its fiscal third-quarter financial results after the markets closed on Tuesday, the company said that it had $0.25 in earnings per share (EPS) and $228.7 million in revenue. Consensus estimates from Thomson Reuters had called for $0.14 in EPS and revenue of $216.72 million. The same period of last year reportedly had EPS of had $0.12 and $192.75 million in revenue.

Comparable store sales increased 5.9% in the third quarter 2016, compared to an 8.8% increase in the same period last year. Comparable store sales growth was driven by a 5.7% increase in walk-in sales and a 7.6% increase in special events sales.

In terms of guidance for the fiscal year, the company expects to see net income in the range of $86.5 million to $88.5 million, up from the previous range of $80 million to $85 million. Dave & Buster’s also expects to see total revenues between $998 million and $1.003 billion, up from the previous range of $983 million to $995 million. The consensus estimates are $1.94 in EPS and $988.64 million in revenue for the full fiscal year.

Apart from earnings, the company announced the promotion of Margo Manning to chief operating officer and senior vice president. She will take over for Dolf Berle, former president and COO.

On the books, Dave & Buster’s cash and cash equivalents totaled $14.72 million at the end of the quarter, down from $25.50 million at the end of the previous fiscal year.

CEO Steve King commented:

Dave & Buster’s delivered exceptional quarterly results and we are pleased to be increasing our annual guidance. Our strength was broad-based as we experienced momentum across the country and throughout the quarter. We generated a 5.9% increase in comparable store sales during the third quarter, lapping an 8.8% increase from the prior year, and 14.7% on a two-year stacked basis. Our comparable store sales growth has now exceeded the competitive casual dining benchmark for 18 straight quarters.  Guests responded well to the conclusion of our ‘Summer of Games’ promotion, along with our subsequent football-related promotions.

Shares of Dave & Busters closed Tuesday at $48.00, with a consensus analyst price target of $48.50 and a 52-week trading range of $29.54 to $49.90. Following the earnings report, the stock was up over 13% at $54.41 in early trading indications.

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