Specifically, GES posted EPS of $0.36/share, beating consensus estimates by $0.03, while surging by 89% year/year. In addition to the double-digit top-line growth, what particularly drove the upside EPS result and strong growth was continued improvement in profitability for the Americas retail segment, which is still its largest market. On that note, profitability in the Americas has improved for four consecutive quarters, thanks again to the turnaround plan as GES has focused on improving the overall quality of its merchandise.
In turn, there have been fewer markdowns, in addition to cost savings from store closures and rent reductions. Consequently, operating margin for the Americas retail segment rocketed higher by 460 basis points to 2.8%. Overall, consolidated GAAP operating margin improved by 70 basis points to 4.9%, as higher distribution costs resulting from the relocation of its European distribution center offset some of the gains.
While GES has taken costs out of the company and has been less promotional, it has also seen an acceleration in demand. For Q2, revenue was up 14% to $646 mln, essentially in-line with the $651 mln consensus. More importantly, it has now strung together three straight quarters of double digit growth, after years of suffering through year/year declines.
Again, improvement in the Americas region played a significant factor as retail comps came in at +3%, but the standout performers have been its European and Asian segments, which jumped by 22% and 32%, respectively. Retail comps increased by 5% in Europe and an impressive 17% in Asia. What's especially encouraging is that management is now expecting positive comps in all of its regions for the remainder of 2018 as it believes it is only in the early innings of its turnaround.
Indeed, GES does appear to have significant runway in terms of its growth potential in both Europe and Asia as it only began really focusing on those markets a couple of years ago. Asia, in fact, still only accounts for less than 13% of its total revenue. Another potential catalyst is its continued drive to reach a 7.5% operating margin -- a good 260 basis points higher from this quarter's mark.
To wrap up, GES also provided guidance for both Q3 and FY19. For Q3, it is forecasting EPS of $0.12-$0.15, in-line with the $0.15 consensus, with revenue growth of 9-10%, equating to $604-$610 mln. And for FY19, it is projecting EPS of $0.94-$1.03 versus the $0.99 consensus, with revenue growth of 9.0-6.5%, equating to $2.58-$2.59 bln.
All in all, GES posted another solid quarterly report as its turnaround plan continues to pay dividends.