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Urban Outfitters Stock Gained on Q3 Earnings Beat

URBN stock is up more than 3% Monday

Urban Outfitters stock (NASDAQ:URBN) is up more than 3% after the bell as the company reported its quarterly earnings results late in the day, which came in stronger than what analysts were calling for in their consensus estimate.

Urban Outfitters Stock
Source: Shutterstock

The apparel retailer said that for its third quarter of fiscal 2018, it brought in net income of $78 million, or 70 cents per share. The figure was stronger than what the company amassed during the year-ago quarter, when Urban Outfitters brought in net income of $45 million, or 41 cents per share.

This figure was also better than earnings of 63 cents per share that analysts polled by Consensus Metrix were calling for in their projection. The company added that on the revenue front, it brought in sales of $973.5 million, topping the $893 million from the year-ago quarter.

Analysts were calling for Urban Outfitters to bring in revenue of $968 million for the period, according to data compiled by a FactSet survey. Same-store sales were slated to surge 7.8% year-over-year, per Consensus Metrix, and the company topped this figure with a same-store sales increase of 8% compared to the year-ago quarter.

Urban Outfitters stock is up about 3.1% during regular trading hours on Monday as the company’s quarterly earnings results were better than what analysts were calling for. URBN shares were down about 3.9% during regular trading hours in anticipation of the company’s results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/urban-outfitters-stock-urbn/.

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