Shares of Drive Shack closed 18.1% higher on Friday after the golf-related leisure and entertainment business operator delivered stellar 4Q earnings. Drive Shack's (DS) earnings of $0.13 per share compared favorably with the year-ago period's loss of $0.25 per share. Analysts were expecting a loss of $0.19 per share. Revenues of $60.3 million topped the Street’s estimates of $55.7 million but declined 16% year-on-year, mainly due to lower revenues from the company’s four entertainment Drive Shack golf venues amid COVID-19 restrictions which led to lower event revenue. Nevertheless, the company said, “The strong momentum and demand for traditional golf continued for American Golf throughout the fourth quarter of 2020.
https://www.tipranks.com/news/drive-shack-jumps-18-as-4q-earnings-exceed-estimates
Drive Shack (NYSE:DS)
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