DSW stock was on the rise Tuesday following the release of its earnings report for the third quarter of the year.
DSW (NYSE:DSW) reported earnings per share of 70 cents for the third quarter of the year. This is an increase over the company’s earnings per share of 45 cents from the same time last year. It was also a boon to DSW stock by easily beating out Wall Street’s earnings per share estimate of 51 cents for the quarter.
During the third quarter of 2018, DSW reported net income of $31.32 million. This is better than the company’s net income of $4.01 million reported in the third quarter of 2017.
Operating income reported by DSW for the third quarter of the year came in at $53.09 million. The retailer of fashionable footwear reported operating income of $3.37 million in the same period of the year prior.
DSW’s earnings report for the third quarter of the year also includes revenue of $833.00 million. This is up from the company’s revenue of $710.99 million reported in the third quarter of the previous year. It was also good news for DSW stock by coming in above analysts’ revenue estimate of $794.36 million for the period.
The positive earnings report for the third quarter of 2018 also has DSW increasing its outlook for the year. The company is now expecting earnings per share for 2018 to range from $1.80 to 1.90. The previous earnings per share outlook range was between $1.60 to $1.75. This is a blessing to DSW stock as Wall Street is looking for earnings per share of $1.72 for the year.
DSW stock was up 10% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.